Financial Crime World

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Financial Crimes and Terrorism Financing in Liechtenstein: A Strong Framework for Combating Money Laundering and Terrorist Financing

The Principality of Liechtenstein has a robust framework in place to prevent money laundering and terrorist financing. As a member of the European Economic Area (EEA), Liechtenstein is obligated to transpose all EU directives and regulations into its domestic law, including those related to anti-money laundering (AML) and combating the financing of terrorism (CFT).

AML/CFT Framework Assessment

Liechtenstein’s AML/CFT framework has been regularly assessed by the International Monetary Fund (IMF) in cooperation with experts from MONEYVAL, a Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism. The most recent assessment visit took place in June 2013, and the report was published in June 2014.

Assessment Findings

The assessment found that Liechtenstein had made significant progress since the last mutual evaluation, particularly in bringing its legal framework more closely in line with the Financial Action Task Force (FATF) recommendations. The report concluded that Liechtenstein has an overall robust institutional framework for combating money laundering and terrorist financing, and is moving towards greater transparency.

MONEYVAL Membership

Liechtenstein is a long-standing and active member of MONEYVAL, which aims to ensure that its member states have effective systems in place to counter money laundering and terrorist financing and comply with the relevant international standards in these fields. Compliance is assessed through regular evaluations.

FATF Recommendations

The FATF recommendations are the global standard for combating money laundering and terrorist financing. Liechtenstein’s compliance with them has been regularly assessed by the IMF and MONEYVAL. The most recent assessment found that 38 of the 40 FATF recommendations were rated positively, either as “Compliant” or “Largely Compliant”.

Global Network

Liechtenstein is part of a global network of FATF-style regional bodies, which includes MONEYVAL, to achieve global implementation of the FATF recommendations. This network consists of eight regional bodies and has over 180 jurisdictions committed to implementing the FATF recommendations.

Conclusion

In conclusion, Liechtenstein’s framework for combating money laundering and terrorist financing is robust and effective, and its compliance with international standards is regularly assessed by the IMF and MONEYVAL. The country’s commitment to preventing financial crimes and terrorism financing is evident in its active membership of MONEYVAL and its efforts to transpose EU directives and regulations into its domestic law.

Contact

  • Mario Gassner
  • Philipp Röser
  • Chief Executive Officer, Executive Office/
  • Legal and International Affairs,
  • FMA - Financial Market Authority Liechtenstein.