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Financial Crime Definition in Liechtenstein: FATF Endorses Country’s Evaluation Report

Major Milestone for Liechtenstein’s Efforts to Combat Illicit Activities

In a significant development, the Financial Action Task Force (FATF) has endorsed Liechtenstein’s evaluation report on its financial crime definition. This milestone marks the country’s progress in defining financial crime and preventing money laundering, terrorist financing, and other illegal activities.

Assessment Methodology

The assessment was conducted using the 2013 Methodology, which evaluated Liechtenstein based on information provided by the country as well as insights gathered during an on-site visit by the evaluation team. The review found that Liechtenstein has made notable progress in defining financial crime.

Key Findings and Recommendations

• Progress Made: The report highlights the country’s progress in defining financial crime, a crucial step in preventing illicit activities. • FATF Endorsement: The FATF’s endorsement of the report signifies its confidence in Liechtenstein’s commitment to combating financial crime.

Conclusion

The FATF’s endorsement reinforces Liechtenstein’s reputation as a responsible player in the global financial system. For further information on the key findings and priority actions recommended by the FATF, readers are advised to consult the Executive Summary of the report.