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Mongolia: Mongolbank requests public comments on draft amendments to AML/CFT procedures
The Central Bank of Mongolia ('Mongolbank') announced, on 17 August 2020, that it is requesting public comments on the draft amendments ('the Draft Amendments') to the anti-money laundering and counter terrorism financing ('AML/CTF') procedures. In particular, the Draft Amendments introduce new risk assessment requirements including risk assessments for clients identified as low risk and proposes increased targeted financial sanctions against entities.
Public comments can be submitted via email to [email protected].
You can read the press release here and the Draft Amendments here, both only available in Mongolian.
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