Financial Crime World

Mongolia Establishes Center to Combat Cybercrime Amid Alarming Rise in Online Fraud

Ulaanbaatar, Mongolia Takes Aim at Growing Menace of Cybercrime

In a bid to tackle the growing menace of cybercrime, Mongolia has established a specialized center dedicated to combating internet fraud and other online criminal activities. The move comes as authorities struggle to contain the increasing number of cases involving online scams, cyber attacks, and illegal gambling.

According to official statistics, Mongolia has seen a staggering rise in cyber-related crimes over the past five years, with 14,085 reported cases, nearly all of which were committed online. Speaking at the launch of the Cyber Crime Center, Minister of Justice and Internal Affairs Enkhbayar Battomor lamented the devastating impact these crimes have had on citizens, citing a significant increase in financial losses.

Collaboration and Rapid Response

To combat this problem, the Mongolian police will collaborate with prosecutors and commercial banks to rapidly freeze citizens’ funds and prevent further damage. The center aims to reduce the financial toll of cybercrime by up to 50%, officials claim.

Worrying Trend in 2022

In 2022 alone, authorities recorded 7,708 fraud-related crimes in Mongolia, a worrying trend that has prompted the government to take decisive action. With the new center now operational, authorities are poised to take on this pressing issue and protect citizens from the scourge of cybercrime.

Key Objectives

  • Reduce financial losses due to cybercrime by up to 50%
  • Collaborate with prosecutors and commercial banks to rapidly freeze citizens’ funds
  • Combat internet fraud and other online criminal activities
  • Protect Mongolian citizens from the growing menace of cybercrime