Liechtenstein Banks Prioritize Anti-Money Laundering Efforts Amid Global Scrutiny

======================================================

In an effort to stay ahead of international regulations and maintain its reputation as a financial hub, Liechtenstein’s banking sector is intensifying efforts to combat money laundering and terrorist financing. The Liechtenstein Bankers Association (LBA) has made rapid implementation of global standards a top priority, ensuring the country’s financial institutions are in compliance with EU directives and international sanctions.

Implementing Global Standards

The LBA is at the forefront of these efforts, prioritizing the transposition of the 40+9 Recommendations of the Financial Action Task Force (FATF) into domestic law. The association is also closely monitoring EU regulations, including:

• The 4th and revised 5th Anti-Money Laundering Directive
• The EU Funds Transfer Regulation

Domestic Efforts

Domestically, Liechtenstein’s Due Diligence Act and Ordinance have been updated to reflect international AML requirements. These updates are regularly reviewed and adapted in response to evolving global standards.

Commitment to Anti-Money Laundering

Liechtenstein’s commitment to anti-money laundering has been recognized by MONEYVAL, the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism. In its most recent assessment, MONEYVAL praised Liechtenstein for meeting high standards in AML/CFT compliance, a testament to the country’s dedication to maintaining a robust financial system.

This recognition demonstrates Liechtenstein’s commitment to staying ahead of international regulations and maintaining its reputation as a trusted financial hub.