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Mongolia Embraces Compliance Frameworks: A Global Trend Takes Hold

In a surprising turn of events, Mongolia has emerged as a hub for compliance frameworks, with its banking sector and industry leaders recognizing the importance of adopting global best practices to participate in the international economy.

The Rise of Compliance in Mongolia

Recently, I had the opportunity to attend a compliance conference in Ulaanbaatar, the capital city, where I delivered two talks on the topic. The country’s enthusiasm for compliance is palpable, with local businesses eager to learn more about implementing effective programs.

  • The Business Council of Mongolia, with the assistance of the US Embassy, was particularly interested in my presentation on compliance best practices.
  • This shows that compliance professionals are not limited to traditional hubs such as the United States or Europe. In fact, our humble profession now spans the globe, with certified compliance professionals like those I met in Mongolia playing a vital role in promoting ethical business practices.

The Society of Corporate Compliance and Ethics (SCCE)

The SCCE is proud to be a part of this global trend, providing training and certification programs that cater to the needs of compliance professionals worldwide. In fact, two attendees at the conference were graduates of our Basic Compliance and Ethics Academies, holding the prestigious Certified Compliance and Ethics Professional-International (CCEP-I) designation.

  • The SCCE is committed to expanding its reach and meeting the growing demand for compliance expertise globally.
  • In 2019, we will be hosting regional meetings in Buenos Aires, Argentina; Santiago, Chile; and Bangkok, Thailand, in addition to our upcoming Academy in Hong Kong. We anticipate further expansion in 2020.

The Future of Compliance

As I look back on my experience in Mongolia, I am reminded that the need for compliance professionals is universal. What was once a niche profession has become a vital component of global business operations. One day, it won’t be unusual to see compliance conferences taking place in cities around the world, including Ulaanbaatar, Mongolia.

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