Liechtenstein Takes Lead in Fight Against Financial Crime

Comprehensive Strategy to Combat Money Laundering and Financing of Terrorism (ML/FT)

Liechtenstein has implemented a bold strategy to effectively combat money laundering and financing of terrorism (ML/FT), demonstrating its commitment to strict adherence to international standards. As a member of the European Economic Area (EEA) and MONEYVAL, Liechtenstein has implemented all EU Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) provisions.

Whole-of-Government Approach

Liechtenstein’s whole-of-government approach brings together national authorities, law enforcement agencies, and the financial sector to identify, assess, and mitigate ML/FT risks. This collaboration enables the country to respond promptly to emerging threats and stay ahead of evolving schemes.

National Risk Assessments (NRAs)

The country’s NRAs have revealed a sophisticated understanding of its risk exposure, with in-depth information and data analysis informing strategic decisions. Liechtenstein’s regulatory framework has been shaped by these assessments, ensuring that the country is well-equipped to address the unique challenges posed by its global client base.

Blockchain Act

In 2020, Liechtenstein became the first country to introduce a comprehensive regulation and supervisory system for virtual assets (the “Blockchain Act”), recognizing the potential risks and opportunities presented by this rapidly evolving field. Authorities continuously monitor market developments, assessing them from a risk perspective to ensure prompt responses to emerging threats.

AML/CFT Strategy and Action Plan

The results of these risk assessments have informed Liechtenstein’s AML/CFT strategy and action plan, with further intensification of cooperation, coordination, and information exchange at both national and international levels a key priority. The country is committed to close cooperation with its international partners, including the United States’ FinCEN, Office of Foreign Asset Controls, Department of Justice, and Securities and Exchange Commission.

Global Leadership in Fight Against Financial Crime

Liechtenstein’s commitment to effective AML/CFT measures has earned it recognition as a global leader in the fight against financial crime. The country’s comprehensive strategy and international cooperation demonstrate its determination to stay ahead of evolving schemes and protect its financial system from ML/FT threats.