ICA and Mongolia Compliance Association to launch learning program

AKIPRESS.COM - The International Compliance Association (ICA) 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, Compliance Week reported.
The qualifications will be available in 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.
Financial Action Task Force (FATF) added Mongolia to its grey list of nations failing to combat money laundering in October 2019.
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.
Compliance is an action in accordance with a request or command, obedience. This sphere includes following to appropriate standards of market conduct, managing conflicts of interest, treating clients fairly and ensuring conscientiousness in advising clients.
International Compliance Association is a leading professional body for the global regulatory and financial crime compliance community.