ICA & Mongolian Compliance Association Launch Bespoke Qualification Amid Increased Regulatory Scrutiny of Country’s AML/CFT Regime

E-learning programme will be offered through the Mongolian Compliance Association to over 10,000 members in compliance-related roles.


3 August 2020 – The International Compliance Association (ICA), the leading professional body for the global regulatory and financial crime compliance community, has partnered with the Mongolia Compliance Association (MCA) to offer a bespoke e-learning programme to 12 professional associations[1] and their 10,000+ members in compliance-related roles, as well as the wider business community.


The qualifications will be available in the country’s native Mongolian language through the MCA for professionals working in a wide range of sectors, including financial services, banking, insurance, legal, accounting and real estate.


The bespoke e-learning programme combines an international framework with modules specifically designed to address the challenges in the Mongolian market, from a practical introduction to compliance and regulation, to risk management, money laundering, counter financing of terrorism and sanctions.


The announcement arrives at just the right time and underlines the country’s efforts to improve its AML/CFT regime amid growing international and regulatory scrutiny. In October 2019, the Financial Action Task Force (FATF) added Mongolia to its grey list of nations failing to combat money laundering along with countries such as Botswana, Pakistan, and Syria. Mongolia has since made a high-level political commitment to work with the FATF and continues to take significant steps towards strengthening the effectiveness of its AML/CFT regime.


ICA President Bill Howarth commented: “We are pleased to have partnered with the Mongolian Compliance Association to offer ICA’s education and help raise the AML/CFT standards in the region. ICA’s qualifications are internationally recognized by jurisdictions across the globe for the quality and depth of data they offer, as well as their unique ability to focus on local requirements.


“The qualifications are broad in scope, suitable for compliance professionals and executives in high risk frontline roles, as well as board level professionals who require foundational knowledge in compliance in order to set the right tone from the top. We are excited to expand into the Mongolian market and provide local professionals with the opportunity to enhance their capabilities and equip them with the skills they need to mitigate risk more effectively at their firms.”


Erdem Zorig, CEO of MCA, added: “MCA is delighted to be working with ICA on this project. The international scope and recognition of ICA combined with MCA’s local expertise offers something uniquely valuable to professionals throughout the country, helping to raise standards in Mongolia and ultimately increase its global standing.”


ICA qualifications are an internationally recognized benchmark of excellence.  To learn more about the full suite, visit: https://www.int-comp.org/course-finder/


[1] The associations Association of Real Estate Brokerage Organisations; Mongolian Association of Non-Bank Financial Institutions; Mongolian Securities Dealers Association; Mongolian Insurance Association; Mongolian Insurance Brokers Association; Mongolian Banking Association; Mongolian National Association of Savings and Credit Cooperatives; Mongolian Bar Association; Mongolian Chamber of Notaries; Institute of Certified Public Accountants; Association of Mongolian Advocates; Association of Traders of Precious Metals, Precious Stones or Articles Made of Them.