NATIONAL AND INTERNATIONAL NATIONAL AND INTERNATIONAL COOPERATION EXPERIENCE OF COOPERATION EXPERIENCE OF MONGOLIAN FIUMONGOLIAN FIU
Davaakhuu. GDavaakhuu. G SupervisorSupervisor
FIU, Bank of MongoliaFIU, Bank of [email protected]@mongolbank.mn
FIUFIU
• The FIU was established as a specialized agency in November 2006 within the structure of Bank of Mongolia in accordance with the Law of Mongolia on Combating Money Laundering and Terrorism Financing.
• Administrative type of FIU
• Functions are similar to most other FIUs
FIU FIU
Reporting entities are:1. Banks
2. Non-bank Financial Institutions
3. Insurance Companies
4. Securities Market Entities
5. Savings and Credit Cooperatives
6. Foreign Currency Exchange Bureau
7. Natural or legal persons conducting gambling activities
8. Natural or legal persons conducting pawnbroker activities
FIUFIU::
• All above FIs except banks are under regulation of FRC
• Started to receive STR and CTRs from banks since 2008.
• Stared on-site AML/CFT compliance supervision since March 2009.
DOMESTIC COOPERATIONDOMESTIC COOPERATION
1. COOPERATION COUNCIL
- Ministry of Finance
- Anti Corruption Agency
- General Prosecutors
- General Customs Office
- General Intelligence Agency
- Economic Police Department
DOMESTIC COOPERATION (Cont’d)DOMESTIC COOPERATION (Cont’d)
- Financial Regulatory Committee
- Bank Supervision Department of BoM
- Legal Division, BoM
2. Cooperation based on MoU or legal agreement
- General Customs Office
- FRC
3. Cooperation not based on MoU or Legal agreement
INTERNATIONAL COOPERATIONINTERNATIONAL COOPERATION
1. MoU based Cooperation
- Republic of Turkey
- Russian Federation
- People’s Republic of China
2. MoU to be signed in near future
- Japan
- South Korea
INTERNATIONAL COOPERATION INTERNATIONAL COOPERATION (Cont’d)(Cont’d)3. Cooperation with International Organizations
a. APG
- Typology meeting and other regular meetings
- Mutual Evolution
- Training and Workshops
b. World Bank (USA Treasury)
- TA
- Training and Workshops
INTERNATIONALCOOPERATION INTERNATIONALCOOPERATION (Cont’d)(Cont’d)
c. IMF
- Training
d. Egmont Group of FIUs
- applied for membership of Egmont Group
- 24 May 2009 in Doha
QUESTIONS
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