Mongolia’s Financial Institutions Receive Crucial Compliance Training

Comprehensive Program for Reporting Entities’ Compliance Officers

Ulaanbaatar, March 30, 2023 - The Institute of Certified Public Accountants of Mongolia recently hosted a comprehensive compliance training program for reporting entities’ compliance officers. The event brought together financial professionals from across the country for an intensive day of learning and knowledge-sharing.

Expert Presentations and Sessions

The Financial Information Service led the charge with presentations on key topics, including:

• General Understanding of Supervision and Reporting Responsibilities
• Risk Management and the Use of a Risk-Based Approach by Reporting Entities
• Customer Due Diligence and Beneficial Ownership
• Tips for Utilizing the GoAML Platform to Report Suspicious Transactions

In addition to the Financial Information Service’s expert input, cooperation council member organizations such as:

• Bank of Mongolia
• Counter-Terrorism Council
• Ministry of Justice and Internal Affairs

also contributed to the training with their own sessions on related topics.

Diverse Learning Experience

The result was a rich and diverse learning experience that catered to the unique needs of over 50 compliance officers who attended the event. The comprehensive program provided financial professionals with the knowledge and tools they need to effectively manage risk, detect suspicious transactions, and comply with regulatory requirements.