The Asia/Pacific Group on Money Laundering (APG) is an inter-governmental organization classified as the Financial Action Task Force-Style Regional Body that ensures member countries implement international standards to combat money laundering, terrorist financing, and the proliferation financing of weapons of mass destruction.
The APG, established in 1997 with 13 founding members, now comprises 42 member jurisdictions. Mongolia became a member of the APG in 2004.
The APG has five primary functions:
Mutual evaluations: The APG assesses the levels of compliance by its member jurisdictions with the global anti-money laundering and combat financing of terrorism (AML/CFT) standards through a mutual evaluation (peer review) program;
Technical assistance and training: The APG Secretariat coordinates bi-lateral and donor-agency technical assistance and training in the Asia/Pacific region for its member jurisdictions in order to improve compliance with global standards;
Typologies research: Research and analysis into money laundering and terrorist financing methods and trends is a key function of the APG to assist policy and lawmakers as well as law enforcement agencies and the general public to identify and respond to new and emerging trends, methods, risks, and vulnerabilities.
Global engagement: The APG contributes to international AML/CFT policy development and actively engages with the global network of FSRBs. The APG also participates in a number of FATF working groups and in its plenary meetings; and
Private sector engagement: Private sector engagement is critical to the APG's overall objectives. The APG actively engages with financial and non-financial institutions, NPOs, training centers, and universities in the Asia-Pacific to better inform the general public and specialists about global issues relating to money laundering, terrorist financing, and proliferation financing.
APG periodically evaluates and monitors the effectiveness and technical compliance of Mongolia’s framework for combatting money laundering, terrorist financing, and proliferation financing.
Mongolia submits a Follow-Up Report to the APG annually, providing a summary of actions taken to strengthen the AML/CFT framework in accordance with the FATF Recommendations.
Please access Mongolia's Mutual Evaluation Reports and Follow-Up reports by clicking here.