Mongolia to improve methods against money laundering

Mongolia is among six Asian countries whose implementation of measures against financing of terrorism financing and money laundering has been found inadequate and will now be reviewed in depth, according to a decision taken at the last annual meeting of the Asia-Pacific Group (APG) on Money Laundering held earlier this month in Singapore. The others in the list are Vietnam, Myanmar, the Philippines, Pakistan, and Cambodia. The decision was taken after all member countries had submitted a report on the status and progress of implementation activities in their country. Until a final report on the review is available, the six countries will have to submit a monthly account of what they have done to improve their monitoring system.