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

Publication details

Language

English

Country

Mongolia

APG-Follow-Up-Report-Mongolia-2021

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APG-Follow-Up-Report-Mongolia-2021.pdf
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852 KB
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Mongolia has made significant progress towards overcoming deficiencies on technical compliance identified in its MER.

  • Mongolia has been re-rated on Recommendation 1 which is re-rated from Partially to Largely Compliant

Mongolia will remain in enhanced follow-up, and will continue to report back to the APG on progress to strengthen its implementation of AML/CFT measures. Mongolia’s next progress report is due 1 February 2022.

APG Follow-Up Report Mongolia - 2020

APG Follow-Up Report Mongolia - 2019

APG Mutual Evaluation Report Mongolia - 2017

Technical Compliance

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

Mongolia Mutual Evaluation 2017

R.1 - Assessing risk & applying risk-based approach
PC
R.2 - National cooperation and coordination
PC
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
PC
R.7 - Targeted financial sanctions related to proliferation
NC
R.8 - Non-profit organisations
PC
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
PC
R.15 - New technologies
LC
R.16 - Wire transfers
LC
R.17 - Reliance on third parties
NC
R.18 - Internal controls and foreign branches and subsidiaries
LC
R.19 - Higher-risk countries
PC
R.20 - Reporting of suspicious transactions
LC
R.21 - Tipping-off and confidentiality
PC
R.22 - DNFBPs: Customer due diligence
NC
R.23 - DNFBPs: Other measures
NC
R.24 - Transparency and beneficial ownership of legal persons
PC
R.25 - Transparency and beneficial ownership of legal arrangements
PC
R.26 - Regulation and supervision of financial institutions
PC
R.27 - Powers of supervisors
LC
R.28 - Regulation and supervision of DNFBPs
NC
R.29 - Financial intelligence units
PC
R.30 - Responsibilities of law enforcement and investigative authorities
C
R.31 - Powers of law enforcement and investigative authorities
C
R.32 - Cash couriers
PC
R.33 - Statistics
PC
R.34 - Guidance and feedback
PC
R.35- Sanctions
PC
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

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