Financial Crime World

Mongolia Launches Initiative to Combat Financial Crime and Corruption

ULAANBAATAR, MONGOLIA - In a bid to boost its ability to counter transnational organized crime and financial fraud, Mongolia has launched a two-year initiative to strengthen its law enforcement capabilities. The UN Office on Drugs and Crime (UNODC) and the Mongolian government have joined forces to enhance the country’s resilience in combating emerging threats such as drug trafficking, cyber-enabled crimes, and corruption.

Strengthening Law Enforcement Capacities

The Mongolia-Law Enforcement Training (M-LET) initiative aims to build capacities among law enforcement agencies and specialized anti-corruption institutions to counter financial crime and promote good governance. The program will also focus on strengthening integrity and building institutional resilience to corruption.

  • Empower officials with specialized training curricula
  • Strengthen integrity and build institutional resilience to corruption
  • Promote good governance and the rule of law

International Cooperation and Exchange Mechanisms

M-LET will expand international cooperation and exchange mechanisms with agencies outside Mongolia, recognizing that financial crime knows no borders. As stated by Duc Long Nguyen, UNODC Crime Prevention and Criminal Justice Officer in Mongolia:

  • Mongolia is not alone in facing challenges to its security, governance, and the rule of law - including corruption, illicit drug use, money laundering, cybercrime, and others.

A New Era of Cooperation

The launch of M-LET marks a significant milestone in the growing partnership between UNODC and Mongolia. The organization has expressed its readiness to expand support to Mongolia’s Ministry of Justice and Home Affairs and relevant specialized institutions to combat financial crime and corruption.

As stated by Solongoo Bayarsaikhan, Deputy Minister of Justice and Home Affairs in Mongolia:

  • We are grateful that there will be an established presence of UNODC in Ulaanbaatar to share continued expertise and cooperation and improve the capacity of law enforcement to combat corruption and crime.

Conclusion

M-LET is a critical initiative for Mongolia, aiming to build capacities among law enforcement agencies and specialized anti-corruption institutions to counter financial crime and promote good governance. With international cooperation and exchange mechanisms in place, Mongolia is poised to take a significant step forward in combating financial crime and corruption.