1 BIRTHS DECREASE BY 1.4 PERCENT FROM PREVIOUS YEAR WWW.MONTSAME.MN PUBLISHED:2020/08/14      2 CHINA REMAINS MONGOLIA'S TOP EXPORT DESTINATION, IMPORT SUPPLIER WWW.XINHUANET.COM PUBLISHED:2020/08/14      3 UNDP MONGOLIA FACILITATES MULTI STAKEHOLDER WORKSHOP TO ADDRESS THE KEY CHALLENGES FACING MONGOLIA’S CASHMERE INDUSTRY POST COVID-19 WWW.MN.UNDP.ORG PUBLISHED:2020/08/14      4 KEY CHINA-MONGOLIA RAILWAY PORT SEES PEAK CARGO CLEARANCES WWW.INNERMONGOLIA.CHINADAILY.COM.CN PUBLISHED:2020/08/14      5 EXPORTS DECREASED BY 17.1 PERCENT COMPARED TO PREVIOUS YEAR WWW.MONTSAME.MN PUBLISHED:2020/08/14      6 CHINESE RAIL SPEEDING TOWARDS EXCITING FUTURE BY DOUBLING NETWORK LENGTH WITHIN 15 YEARS & INTRODUCING 600KPH MAGLEV TRAINS WWW.RT.COM PUBLISHED:2020/08/14      7 RUSSIA OFFERS TO HELP US WITH COVID-19 VACCINE; US SAYS NO WWW.CNN.COM PUBLISHED:2020/08/14      8 MONGOLIA’S SUCCESS AND CHALLENGES AGAINST COVID-19 WWW.EASTASIAFORUM.ORG PUBLISHED:2020/08/13      9 FIRST EVER RAILWAY BRIDGE CONNECTING RUSSIA & CHINA TO OPEN IN 2022 WWW.RT.COM PUBLISHED:2020/08/13      10 CABINET MEETING: SMALL, MEDIUM-SIZED ENTERPRISE DIRECTORATE ESTABLISHED WWW.MONTSAME.MN  PUBLISHED:2020/08/13      ДЭМБ: КОРОНАВИРУСНИЙ УЧРУУЛЖ БУЙ ХОХИРОЛ САРД $375 ТЭРБУМААР ХЭМЖИГДЭЖ БАЙНА WWW.ZINDAA.MN НИЙТЭЛСЭН:2020/08/14     АЯЛАХАД ТОХИРОМЖГҮЙ, АЮУЛТАЙ БҮСЭД МОНГОЛЫГ БАГТААВ WWW.UNUUDUR.MN  НИЙТЭЛСЭН:2020/08/14     ОЛОН УЛСЫН СТАНДАРТ ХАНГАСАН ХӨЛБӨМБӨГИЙН “TDB CENTER” ЦЭНГЭЛДЭХИЙН ШАВ ТАВИХ ЁСЛОЛ БОЛЛОО WWW.NEWS.MN НИЙТЭЛСЭН:2020/08/14     ОРОСЫН КОМПАНИУДЫН АШИГ ЭРС БУУРЧ БАЙГААГ АНХААРУУЛАВ WWW.NEWS.MN  НИЙТЭЛСЭН:2020/08/14     ХЯТАД УЛС 2035 ОНООС ӨМНӨ ТӨМӨР ЗАМЫН УРТАА 200,000 КМ-ЭЭР СУНГАНА WWW.IKON.MN  НИЙТЭЛСЭН:2020/08/13     ЭКСПОРТ ӨМНӨХ САРААС 16.9 ХУВИАР ӨСЧЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2020/08/13     УУЛ УУРХАЙН БҮТЭЭГДЭХҮҮНИЙ ЭКСПОРТЫГ НЭМЭГДҮҮЛЭХ ТАЛААР ЯРИЛЦАВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/08/13     ДАВХАР БҮРТГЭЛТЭЙ ҮНЭТ ЦААСЫГ ГАДААД, ДОТООДОД ХӨРВҮҮЛЭХ БОЛОМЖТОЙ БОЛОВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/08/13     ЛОКАРНО КИНО НААДАМД МОНГОЛЫН УРАН БҮТЭЭЛЧИД ГУРВАН ШАГНАЛ ХҮРТЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/08/13     ОРОС УЛС ГАЗРЫН ХОВОР ЭЛЕМЕНТИЙН ҮЙЛДВЭРЛЭЛЭЭР ХЯТАД УЛСТАЙ ӨРСӨЛДӨХ ТӨЛӨВЛӨГӨӨГӨӨ ЗАРЛАЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2020/08/13    

FATF reviews Mongolia’s effort on AML/CFT www.montsame.mn

The FATF has announced that the mutual evaluation and related follow-up processes of all countries would be postponed for four months due to COVID-19 pandemic. However, the Minister of Finance and the Governor of the Bank of Mongolia conveyed a formal request in March 2020 to not extend the deadline and continue on the current schedule and organize the assessment meeting online. As a result, the deadline has not been postponed as agreed by the FATF.

On June 30, the Financial Action Task Force (FATF) released the result of the review process of Mongolia’s effort on anti-money laundering and combating the financing of terrorism (AML/CFT) as noted below:

In October 2019, Mongolia made a high-level political commitment to work with the FATF and APG to strengthen the effectiveness of its AML/CFT regime and address any related technical deficiencies. The FATF has made the initial determination that Mongolia has substantially completed its action plan and warrants an on-site assessment to verify that the implementation of Mongolia’s AML/CFT reforms has begun and is being sustained, and that the necessary political commitment remains in place to sustain implementation in the future. Specifically, Mongolia has made the following key reforms:

(1) improving sectoral ML/TF risk understanding by DNFBP supervisors, applying a risk-based approach to supervision and applying proportionate and dissuasive sanctions for breaches of AML/CFT obligations; (2) demonstrating increased investigations and prosecutions of different types of ML activity in line with identified risks; (3) demonstrating further seizure and confiscation of falsely/non-declared currency and applying effective, proportionate and dissuasive sanctions; (4) demonstrating cooperation and coordination between authorities to prevent sanctions evasion; and (5) monitoring compliance by FIs and DNFBPs with their PF-related TFS obligations, including the application of proportionate and dissuasive sanctions.

The FATF will continue to monitor the COVID-19 situation and conduct an on-site visit at the earliest possible date.

 
 
 


Published Date:2020-07-03