“We support Mongolia in strengthening its regulatory and investigative capacity regarding virtual assets, helping to ensure a safer and more transparent financial environment for all.”
During the seminar, the focus was on the practical aspects of compliance with regulatory requirements and conducting investigations related to virtual assets. Participants had the opportunity to master analytical tools for blockchain and explore approaches to risk reduction. Best practices of financial institutions in servicing businesses related to virtual assets were discussed, as well as the importance of inter-agency cooperation in combating illicit financing.
“We support Mongolia in strengthening its regulatory and investigative capacity regarding virtual assets, helping to ensure a safer and more transparent financial environment for all,” said Zurab Sanikidze, senior officer and project manager at the OSCE.
“Mongolia continues to take measures in the fight against corruption and money laundering. This support is relevant as the field of virtual assets continues to evolve and presents new challenges,” noted Jargalbaatar Chimeddorj, head of the investigation department and senior commissioner of the IAAC in his opening remarks.
Issues of oversight of cryptocurrency companies in the context of combating money laundering and terrorist financing (AML/CFT) were also discussed, as well as cooperation between financial institutions and law enforcement agencies to create effective mechanisms for reporting violations.
The seminar was organized by the OSCE Office of the Co-ordinator of Economic and Environmental Activities (OCEEA) as part of the extra-budgetary project “Innovative Policy Solutions for Reducing Money Laundering Risks Associated with Virtual Assets,” which is funded by the governments of Germany, Italy, Poland, Romania, the United Kingdom, and the United States.
source: MiddleAsianNews
