Fri, 04 Dec 2020

ULAN BATOR, Oct. 24 (Xinhua) -- The Financial Action Task Force (FATF) has removed Mongolia from its gray list, Mongolian Finance Minister Chimed Khurelbaatar announced here Friday night.

"I have a piece of good news. The FATF has officially removed our country from its gray list," Khurelbaatar said in a statement.

The FATF is an intergovernmental organization founded in 1989, aiming at combating global money laundering and terrorist financing.

Mongolia was added to the FATF's gray list in October 2019 after the country failed to pass requirements to combat money laundering and the financing of terrorism.

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