Mongolia To Crack Down On Money Laundering, Terrorist Financing: Prime Minister

Mongolia will stand firm on combating money laundering and terrorist financing, the country's Prime Minister Ukhnaa Khurelsukh said Tuesday.

ULAN BATOR, (APP - UrduPoint / Pakistan Point News - 30th Oct, 2018 ) :Mongolia will stand firm on combating money laundering and terrorist financing, the country's Prime Minister Ukhnaa Khurelsukh said Tuesday.

"Money laundering and terrorist financing activities have negatively affected countries' economic growth and efforts to achieve sustainable development and eliminate poverty," he said.

What's more, he said that Mongolia, "with a vulnerable economy which is directly dependent on external factors," needs to pay special attention to fighting money laundering and terrorist financing.

Khurelsukh made the remarks at the opening ceremony of an international scientific conference on fighting money laundering, according to the government's press office.

According to data from Mongolia's National Police Agency, 26 cases of money laundering were recorded in the first half of this year, while only seven cases of this kind were reported last year in Mongolia.

Most of the money laundering cases in Mongolia are linked to fraud, embezzlement, bribery, tax evasion and drug trafficking, the agency said.