08/12/2020 (Agence Europe) – The European Commission adopted on Monday 7 December a delegated act proposing the removal of Mongolia from the EU’s ‘black’ list of non-Member States with a high risk of money laundering. The text updates the new list presented by the Commission on 7 May (see EUROPE 12481/6) to align it with that of the Financial Action Task Force (FATF). Mongolia was removed from the FATF’s list in October 2020 after the FATF concluded that Mongolia had addressed deficiencies in its anti-money laundering regime. The Commission has examined Mongolia’s strategic shortcomings and concluded that at this stage it no longer poses a significant threat to the EU financial system. The text will take effect in one month, if the European Parliament and the EU Council do not opposed it. See text: https://bit.ly/3oz0NYt (MF)