Mongolia’s removal from FATF grey list supported at ICRG meeting

Ulaanbaatar /MONTSAME/. A meeting of the International Cooperation Review Group (ICRG) of the Financial Action Task Force (FATF) to discuss final recommendation to the FATF Plenary session held virtually yesterday. According to Minister of Finance Ch.Khurelbaatar, the participating representatives of more than 100 countries unanimously supported Mongolia’s removal from the list of countries with strategic deficiencies or so-called ‘Grey List’ during the meeting based on the reports presented by the team who visited Mongolia to conduct an on-site assessment. The Minister tweeted, “Although we were expecting a positive result, everyone was truly happy to hear that Mongolia’s removal from the grey list has been supported”, saying that it came into reality as a result of significant efforts and contribution made by everyone involved in the process. The final decision regarding Mongolia’s removal from the list will be made at the FATF Plenary session which will be held virtually on October 21-23.