Mongolia’s Compliance Professionals to Benefit from International E-Learning Programme
Enhancing AML/CFT Standards in Mongolia
In a bid to strengthen anti-money laundering (AML) and combating the financing of terrorism (CFT) standards in Mongolia, the Mongolian Compliance Association (MCA) has partnered with the International Compliance Association (ICA) to offer a bespoke e-learning programme to over 10,000 compliance professionals.
Comprehensive Education Platform
The initiative aims to provide a comprehensive education platform for professionals working in various sectors, including:
- Financial services
- Banking
- Insurance
- Legal
- Accounting
- Real estate
The programme will be available in Mongolian language, catering specifically to the country’s unique market challenges.
ICA’s E-Learning Programme
ICA’s e-learning programme combines an international framework with modules tailored to address local needs, covering topics such as:
- Risk management
- Money laundering
- Counter-financing of terrorism
- Sanctions
The qualifications are internationally recognized and designed to enhance the capabilities of compliance professionals in high-risk frontline roles and board-level executives seeking foundational knowledge in compliance.
Timely Partnership
The partnership arrives at a crucial time for Mongolia, which was added to the Financial Action Task Force’s (FATF) grey list in 2019 due to concerns over its AML/CFT regime. Since then, the country has made significant strides towards strengthening its anti-money laundering measures and is committed to working with the FATF.
Quotes from Industry Leaders
- “We are pleased to partner with the Mongolian Compliance Association to offer ICA’s education and help enhance AML/CFT standards in the region. Our qualifications are recognized globally for their quality and depth, as well as their ability to focus on local requirements.” - Bill Howarth, President of ICA
- “MCA is delighted to work with ICA on this project, combining our local expertise with ICA’s international scope and recognition to offer something uniquely valuable to professionals throughout the country. This will ultimately increase Mongolia’s global standing by raising standards in compliance.” - Erdem Zorig, CEO of MCA