Trade and Development Bank successfully organized the 7th "Compliance Forum 2019" event on November 5th with the Mongolian Bankers Association and the Bank of Mongolia.
Executives of commercial banks, directors of governmental organizations, international law firm partners, and advisers to international organizations were invited to share their best practices of correspondent relationships, risks related to compliance, and also held a panel discussion concerning FATF Grey-listing and its impact on Mongolian economy.
Compliance is an essential component of financial institutions. Such as ensuring that the policies and procedures are risk-free by the law, regulations, and international standards of the regulators and other international institutions.
Also, it includes preventing any compliance-related issues. Its main goal is to protect its clients from financial crimes such as money laundering and financing terrorism.