(5)In October 2019, the FATF identified Mongolia as a jurisdiction having strategic AML/CFT deficiencies for which Mongolia had developed an action plan with the FATF. On this basis and in accordance with the latest relevant information, the Commission’s assessment in May 2020 concluded that Mongolia should be considered as a third-country jurisdiction which had strategic deficiencies in its AML/CFT regime that posed significant threats to the financial system of the Union, in accordance with the criteria set out in Article 9 of Directive (EU) 2015/849. It was also noted that Mongolia had provided written high-level political commitments to address the identified deficiencies and had developed an action plan with the FATF.