Mongolia has joined the Eurasia Group (EAG) at the Financial Action Task Force on Money Laundering (FATF) as an observer.
By this, Mongolia wants to strengthen the system of combating a money laundering, financing terrorism, and study the ways and means of criminals and their attitudes. A decision to give Mongolia observer status was made at the 16th EAG Plenary meeting and EAG Working Group meetings which took place on May 22-25 in Moscow, Russia.
Before becoming observer, Mongolia joined several international conventions on anti-money laundering crimes, and adopted its law on combating money laundering and terrorism financing in 2006. Currently,
Mongolia is working to revise this law according to international standards.