The Business Ethics Working Group of the Business Council of Mongolia held a special meeting
The Business Ethics Working Group of the Business Council of Mongolia held a special meeting with a panel discussion on “Macro issues of Relevance to Businesses in Mongolia – The Special Case of Anti-money Laundering Compliance and the Asia/Pacific Group (APG)’s Mutual Evaluation Report (MER) on Money Laundering”.
The panel included the Deputy Head of the Financial Investigation Unit of the Bank of Mongolia Mr. Dulamsuren Tumur, Chief Risk Officer of XacBank Mr. Torsten Kleine Buening, Richard Wagner, Partner at Steptoe and Johnson, and General Counsel of XacBank Mr. Taishir Tumurbaatar as a chair of the Working Group. Representatives of the Mongolian Bar Association, Banking Association and other private companies were in attendance.
It was an interesting panel discussion, key issues of which were related to the Government of Mongolia’s action plan on implementation of the APG’s recommendations and prevention from Mongolia’s “grey-listing”.
Mr. Torsten underlined “that end-to-end compliance including Know Your Customer and De-Risking are fully in line with XacBank’s Triple Bottom Line Mission: People, Planet, Profit” and provided its full support on the actions taken by the Government and Central Bank of Mongolia on tackling the issues mentioned in the MER.
