Design and implementation of a capacity development program – experience with combating money laundering and financing of terrorism in Mongolia

Author:Cheong-Ann Png, Michael DeFeo, Tristram Hicks
Position:Asian Development Bank, Metro Manila, Philippines; Independent consultant, Dallas, TX, USA; AML Consulting (Global), Brighton, UK
Pages:488-495
SUMMARY

Purpose - This paper aims to share experience in the design and implementation of a two-year capacity development program for combating money laundering and financing of terrorism in Mongolia. Design/methodology/approach - The paper reflects the experience of the authors in the design and implementation of the program with inputs from... (see full summary)

 
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Design and implementation of a
capacity development program –
experience with combating
money laundering and nancing
of terrorism in Mongolia
Cheong-Ann Png
Asian Development Bank, Metro Manila, Philippines
Michael DeFeo
Independent Consultant, Dallas, Texas, USA, and
Tristram Hicks
AML Consulting (Global), Brighton, UK
Abstract
Purpose – This paper aims to share experience in the design and implementation of a two-year
capacity development program for combating money laundering and nancing of terrorism in
Mongolia.
Design/methodology/approach – The paper reects the experience of the authors in the design and
implementation of the program with inputs from their counterparts in Mongolia.
Findings – The program outcomes and the level of collaboration are generally positive, and the
authorities and the Asian Development Bank agreed on a two-year extension of the program to further
the progress made.
Originality/value – The authors hope to share key reections from the program for the purpose of
other similar programs or studies in the eld of combating money laundering and nancing of
terrorism.
Keywords Money laundering, Capacity development, Financing of terrorism
Paper type Viewpoint
1. Introduction
Anti-money laundering (“AML”) is an international initiative that has evolved since
the adoption of the United Nations Convention Against Illicit Trafc in Narcotic Drugs
and Psychotropic Substances in 1988 and the original formulation of the Financial
Action Task Force Forty Recommendations on Money Laundering (“FATF 40
Recommendations”) in the rst FATF report in 1990. Today, AML is often used as a
generic reference to combating money laundering and the nancing of terrorism and
proliferation of weapons of mass destruction. This is pursuant to the adoption of the
Disclaimer: The views expressed in this paper are those of the authors and do not necessarily
reect the views and policies of the Asian Development Bank, or its Board of Governors or the
governments they represent.
The current issue and full text archive of this journal is available on Emerald Insight at:
www.emeraldinsight.com/1368-5201.htm
JMLC
18,4
488
Journalof Money Laundering
Control
Vol.18 No. 4, 2015
pp.488-495
©Emerald Group Publishing Limited
1368-5201
DOI 10.1108/JMLC-02-2015-0006

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