Offshore account holders not allowed for elections
Offshore account holders not allowed for elections.
Offshore account holders not allowed for elections. Speaker of Mongolian Parliament and Chairman of the Democratic Party reportedly told that DP members with offshore accounts will not run for the June elections. The DP leader called upon other parties to do the same. Nomination of candidates began past Monday and the names of candidates will be finalized by Friday. Lately, websites are reporting that General Police Authority is conducting an investigation on politicians with offshore accounts. However, General Police Authority responded that there is no legislation to examine politicians with offshore accounts. In other words, Mongolia has no laws pertaining to offshore accounts. The offshore leaks made public by the International Consortium of Investigative Journalists /ICIJ/ verified 48 Mongolian citizens with offshore accounts. Commenting on offshore leaks the Mongolian president said that pertinent legislation should be tightened up and responsibilities have to be improved. Policy makers and law enforcement structures have to take initiatives to make certain the legislation implementation and reveal every attempts of tax evasion, money laundering and hiding illegal incomes.
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