U.S. Treasury Deputy Assistant Secretary for Terrorist Financing and Financial Crimes Daniel Glaser visited Mongolia on June 9th to meet with officials of the government of Mongolia. He met with representatives of the Bank of Mongolia, Ministry of Finance, Ministry of Justice, Foreign Ministry, the Financial Regulatory Commission and Mongolian law enforcement and security agencies. In addition, he met with the representatives of Mongolian commercial banks and non bank financial institutions. The visit underscored the close cooperation between the United States and Mongolia in combating illicit finance.

Mr. Glaser discussed U.S. Actions to protect the international financial system from abuse by North Korean or other entities engaged in illicit activities. He commended Mongolia for its commitment to ensure its financial system is not abused by North Korea to facilitate such activity.

Mr. Glaser also discussed the importance for Mongolia to implement an effective anti-money laundering/counter-terrorist financing (AML/CFT) regime that included a strong legal framework as well as financial supervision and regulatory systems that meet international standards. He congratulated Mongolia on its efforts and said the U.S. looked forward to working with Mongolia on these important issues.