Financial Crime World

Here is the converted article in markdown format:

Mongolia Strengthens Intelligence Agency’s Capacity to Monitor NGOs Involved in Terrorism

Improving Monitoring of NGOs Linked to Terrorist Activities

The Mongolian government has launched a comprehensive strategy to enhance its monitoring of non-governmental organizations (NGOs) that may be involved in terrorism activities and terrorist organizations. The goal is to improve the capacity of law enforcement authorities to investigate money laundering and terrorist financing offenses, and strengthen cooperation between agencies.

Key Objectives

  • Strengthen the intelligence agency’s capacity to monitor NGOs involved in terrorism activities
  • Establish a permanent investigative task force to detect and disrupt crimes committed in association with money laundering and terrorist financing
  • Improve international cooperation through signing mutual legal assistance treaties with foreign countries
  • Enhance awareness, understanding, and knowledge of AML/CFT prevention among government agencies, non-governmental organizations, private entities, financial institutions, and the public

Strengthening Capacity and Coordination

The strategy aims to:

  • Improve coordination and cooperation among Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) stakeholders and public-private partnerships
  • Increase detection of ML/TF crimes and confiscation of assets and proceeds of crime
  • Strengthen capacity and coordination among law enforcement agencies and stakeholders on exchanging information on ML/TF crimes and other transnational crimes

Implementation Plan

The strategy will be implemented over the 2017-2019 period, with funding from:

  • State budget
  • Local budgets
  • International organizations
  • Donor countries

Monitoring and Evaluation

The implementation of the strategy will be monitored annually, and a report will be submitted to the government within the first half of each year. The plan can also be amended taking into account monitoring and evaluation outcomes, recommendations from international organizations, and standards adopted by international organizations in relation to money laundering and terrorism financing.

Quote from Minister of Justice

“We are committed to preventing and combating terrorism financing and money laundering,” said [Name], Minister of Justice. “This strategy will help us to strengthen our efforts and improve our capacity to detect and disrupt these crimes.”

Source

Mongolian Ministry of Justice