NATIONAL AND INTERNATIONAL COOPERATION EXPERIENCE OF MONGOLIAN FIU Davaakhuu. G Supervisor Supervisor FIU, Bank of Mongolia

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Presentation transcript:

NATIONAL AND INTERNATIONAL COOPERATION EXPERIENCE OF MONGOLIAN FIU Davaakhuu. G Supervisor Supervisor FIU, Bank of Mongolia

FIU 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

FIU : All above FIs except banks are under regulation of FRC S tarted to receive STR and CTRs from banks since Stared on-site AML/CFT compliance supervision since March 2009.

DOMESTIC COOPERATION DOMESTIC 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) - 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 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 (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 (Cont’d) c. IMF - Training d. Egmont Group of FIUs - applied for membership of Egmont Group - 24 May 2009 in Doha

QUESTIONS

THANK YOU FIU, BANK OF MONGOLIA