Mongolia's progress in strengthening measures to tackle money laundering and terrorist financing

Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Mongolia Follow-Up Report 2023

R.1 - Assessing risk & applying risk-based approach: LC
R.2 - National cooperation and coordination: LC
R.3 - Money laundering offence: LC
R.4 - Confiscation and provisional measures: LC
R.5 - Terrorist financing offence: LC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing: LC
R.7 - Targeted financial sanctions related to proliferation: LC
R.8 - Non-profit organisations: C
R.9 - Financial institution secrecy laws: LC
R.10 - Customer due diligence: LC
R.11 - Record keeping: C
R.12 - Politically exposed persons: LC
R.13 - Correspondent banking: LC
R.14 - Money or value transfer services: C
R.15 - New technologies: LC
R.16 - Wire transfers: LC
R.17 - Reliance on third parties: LC
R.18 - Internal controls and foreign branches and subsidiaries: LC
R.19 - Higher-risk countries: LC
R.20 - Reporting of suspicious transactions: LC
R.21 - Tipping-off and confidentiality: C
R.22 - DNFBPs: Customer due diligence: LC
R.23 - DNFBPs: Other measures: LC
R.24 - Transparency and beneficial ownership of legal persons: LC
R.25 - Transparency and beneficial ownership of legal arrangements: LC
R.26 - Regulation and supervision of financial institutions: LC
R.27 - Powers of supervisors: LC
R.28 - Regulation and supervision of DNFBPs: LC
R.29 - Financial intelligence units: C
R.30 - Responsibilities of law enforcement and investigative authorities: C
R.31 - Powers of law enforcement and investigative authorities: C
R.32 - Cash couriers: LC
R.33 - Statistics: LC
R.34 - Guidance and feedback: LC
R.35- Sanctions: LC
R.36 - International instruments: C
R.37 - Mutual legal assistance: C
R.38 - Mutual legal assistance: freezing and confiscation: LC
R.39 - Extradition: LC
R.40 - Other forms of international cooperation: LC

C = compliant | LC = largely compliant | PC = partially compliant | NC = non-compliant

Earlier reports

6 Sep 2021

Mongolia's progress in strengthening measures to tackle money laundering and terrorist financing This follow-up report analyses the progress of Mongolia in addressing the technical compliance deficiencies identified in its MER.
15 Sep 2020

Follow-up report to Mongolia's assessment of anti-money laundering and counter-terrorist financing measures This follow-up report analyses the progress of Mongolia in addressing the technical compliance deficiencies identified in its MER and FUR.
4 Oct 2019

Follow-up report to Mongolia's assessment of anti-money laundering and counter-terrorist financing measures This follow-up report analyses the progress of Mongolia in addressing the technical compliance deficiencies identified in its MER.
20 Sep 2017

Mongolia's measures to combat money laundering and terrorist financing This report provides a summary of the AML/CFT measures in place in Mongolia as at the date of the on-site visit 4 November 2016.
24 Jul 2007

Mutual Evaluation of Mongolia Mongolia is a member of APG, the assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT measures in Mongolia was conducted by APG.

Related materials

APG

The FATF Recommendations

The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The FATF calls upon all countries to effectively implement these measures in their national systems.

Mutual Evaluations

The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system

Read more Consolidated assessment ratings