Banking Regulations in Liechtenstein Meet High Standards for Anti-Money Laundering and Combating Terrorism Financing

Liechtenstein’s banking sector is renowned for its proactive approach to anti-money laundering (AML) and combating the financing of terrorism (CFT). Compliance with international sanctions is a top priority, and the Liechtenstein Bankers Association (LBA) is committed to implementing international standards and requirements rapidly into domestic law.

International Standards and Requirements

The LBA focuses on specific guidelines, including:

• The 40+9 Recommendations of the Financial Action Task Force (FATF)
• European Union directives and regulations
  • The 4th EU Anti-Money Laundering Directive, partially revised in June 2018 with the 5th EU Anti-Money Laundering Directive
  • The EU Funds Transfer Regulation

Domestic AML Requirements

Liechtenstein’s AML requirements are transposed through:

• The Due Diligence Act
• The Ordinance These provisions are regularly reviewed and updated to reflect international developments.

MONEYVAL Assessment

As a member of MONEYVAL, the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, Liechtenstein is subject to regular assessments by MONEYVAL, in collaboration with the International Monetary Fund. In its most recent assessment, MONEYVAL praised Liechtenstein for meeting high standards in AML/CFT compliance.

Conclusion

Liechtenstein’s banking sector has demonstrated a strong commitment to anti-money laundering and combating terrorism financing. By implementing international standards and requirements, Liechtenstein is ensuring the integrity of its financial system and maintaining a reputation as a trusted and secure banking destination.