The International Compliance Association (ICA), a leading professional body for the global regulatory and financial crime compliance community, announced a partnership with the Mongolia Compliance Association (MCA) to offer a bespoke e-learning program to 12 professional associations and their 10,000-plus 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 program combines an international framework with modules specifically designed to address challenges in the Mongolian market, from a practical introduction to compliance and regulation to risk management, money laundering, counter financing of terrorism, and sanctions.
In October 2019, the Financial Action Task Force (FATF) added Mongolia to its grey list of nations failing to combat money laundering. 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.
“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,” said ICA President Bill Howarth in a press release.
The International Compliance Association is a sister company to Compliance Week. Both organizations are under the umbrella of Wilmington plc.