Mongolia no longer subject to FATF’s increased monitoring process

2020-10-26 13:57:58

Ulaanbaatar/MONTSAME/. The FATF President Dr. Marcus Pleyer announced that Mongolia is no longer subject to the FATF’s increased monitoring process. 

During its virtual plenary meeting on October 23, the FATF congratulated Iceland and Mongolia for the significant progress they have made in addressing the strategic deficiencies in their regimes to counter money laundering, terrorist financing and proliferation financing, identified earlier by the FATF and included in their respective action plans. The countries are now no longer subject to the FATF’s increased monitoring process. This comes after both countries received on-site visits despite the COVID-19 crisis. Mongolia will work with the APG of which it is a member, to continue to strengthen their AML/CFT regimes.

The meeting, chaired by the FATF President Dr. Marcus Pleyer, brought together delegates from over 130 countries and international organizations.