National Committee /NC/

Article 22-1 of the Law on Combating Money Laundering and Terrorism Financing sets out the legal framework for the National Committee. In the law mentioned above, the National Committee shall be chaired by the Member of the Government in charge of legal affairs, shall comprise of representatives of Member of the Government in charge of financial affairs, Member of the Government in charge of foreign affairs, the General Prosecutor’s Office, the Bank of Mongolia, the Financial Regulatory Commission, law enforcement authorities, organizations responsible of combating terrorism financing, taxation and custom authorities and the Financial Information Unit. Therefore, in order to strengthen the AML/CFT framework of Mongolia and to comply with the FATF Recommendations and Immediate Outcomes, and to address deficiencies reflected in Mongolia’s Mutual Evaluation Report of 2016-2017, structure of the NC was first approved by the Decree No. 70 of the Prime Minister of Mongolia dated April 20, 2017. This decree was revised by the Decree No. 144 dated August 20, 2018 stating the structure of the NC as follows:


  • To develop a draft National Strategy for Anti-money laundering and countering financing of terrorism based on the Mongolia’s money laundering and terrorism financing risk assessment;
  • To submit the draft National Strategy for AML/CFT to the Government of Mongolia for approval through the Head of the Council;
  • To ensure and to evaluate the implementation of the National Strategy for AML/CFT, to organize the next National risk assessment, and to provide unified management;
  • To review the implementation of AML/CFT policies and strategies and to submit to the Government;
  • To discuss measures to be taken to intensify the cooperation under the AML/CFT framework;
  • To ensure the implementation of the national strategy on combating proliferation financing and to cooperate with the relevant authorities.

Image. Structure of cooperation between National Council and Cooperation Council