Financial Crime World

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AML Compliance Software Solutions Gain Traction in Liechtenstein

In a bid to strengthen its regulatory framework, the Principality of Liechtenstein has seen a surge in demand for Anti-Money Laundering (AML) compliance software solutions. Local service providers are stepping up to meet this need, offering expertise and support to financial institutions and businesses operating within the country.

Comprehensive AML Services

Liechtenstein’s Financial Market Authority (FMA) requires all financial services providers to implement robust AML measures, including know-your-customer (KYC) procedures, transaction monitoring, and reporting of suspicious transactions. In response, companies such as FS+P are offering a range of services to help clients comply with these regulations.

  • Advice on fundamentals of regulation and supervision: FS+P provides guidance on understanding and complying with regulatory requirements.
  • Obtaining licenses and authorisations for financial service providers: They assist clients in obtaining necessary licenses and authorisations from the FMA.
  • Reporting, disclosure, recovery, and resolution: FS+P helps clients understand their reporting obligations and ensure compliance with relevant regulations.
  • Market abuse and EU anti-money laundering directives: They provide expertise on market abuse prevention and compliance with EU AML directives.
  • FATCA and automatic exchange of information (AEOI): FS+P assists clients in understanding and complying with FATCA and AEOI requirements.
  • Data protection and the General Data Protection Regulation (GDPR): They provide guidance on data protection and GDPR compliance.

Supporting Financial Institutions

FS+P serves as a liaison for various financial institutions, including banks, e-money institutions, payment institutions, insurance undertakings, and professional trustees. Their comprehensive range of services includes:

  • Setting up or optimising the right risk and compliance organisation: FS+P helps clients establish effective risk management and compliance frameworks.
  • Project management and crisis management: They assist clients in managing projects and responding to crises effectively.
  • Basic and continuing training in regulated financial services sector and supervisory law: FS+P provides ongoing training and education on regulatory requirements.

A Trusted Partner

FS+P is a fully licensed trust company supervised by the Financial Market Authority Liechtenstein and an active member of the Liechtenstein Institute of Professional Trustees and Fiduciaries. Their commitment to transparency, integrity, and compliance has earned them a reputation as a trusted partner in the financial services industry.

Conclusion

AML compliance software solutions are becoming increasingly important in Liechtenstein, with FS+P at the forefront of this trend. Their expertise and support help clients navigate complex regulatory requirements, ensuring that they remain compliant with all relevant laws and regulations.