Here is the rewritten article in Markdown format:

Compliance Risk Assessment in Mongolia: A Growing Concern for Local Businesses

ULAANBAATAR, MONGOLIA - In a surprising turn of events, compliance risk assessment has emerged as a crucial concern for businesses operating in Mongolia. The country’s banking sector and other industries are recognizing the importance of adopting robust compliance programs to participate in the global economy.

A Growing Importance of Compliance

Adam Turteltaub, a prominent compliance expert, recently visited Ulaanbaatar, Mongolia, where he delivered talks on compliance programs to local businesses. Turteltaub, who is also the editor-in-chief of Corporate Compliance Insights, was invited by the US Embassy to speak at The Business Council of Mongolia, which comprises some of the country’s most prominent business leaders.

“The enthusiasm for compliance in Mongolia was palpable,” said Turteltaub. “It’s clear that local businesses understand the importance of adhering to global standards and regulations to remain competitive.”

Mongolia’s Banking Sector Leads the Way

Mongolia’s banking sector has been at the forefront of adopting compliance measures, recognizing that it is essential for maintaining a strong reputation and avoiding costly fines and penalties. The country’s remote location between China and Russia may have contributed to its relatively slow adoption of compliance practices, but it is now catching up with other nations.

Growing Importance of Certification

Turteltaub’s visit was significant not only because it marked the first time a prominent compliance expert had spoken in Mongolia but also because it highlighted the growing importance of certification for compliance professionals. Two graduates of the Society of Corporate Compliance and Ethics’ (SCCE) Basic Compliance and Ethics Academies, both holding the Certified Compliance and Ethics Professional-International (CCEP-I) designation, were present at the conference.

Global Expansion of SCCE

The SCCE is expanding its reach globally, with plans to hold regional meetings in Buenos Aires, Argentina; Santiago, Chile; and Bangkok, Thailand, in 2019. The organization expects to expand even further in 2020.

A Promising Future for Compliance in Mongolia

As compliance risk assessment becomes an increasingly important concern for businesses worldwide, it is heartening to see that experts like Turteltaub are working tirelessly to promote the importance of compliance programs globally. Who knows? Maybe one day, a picture of a compliance conference in Mongolia will be as commonplace as one taken in Manhattan or Madrid.