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Liechtenstein Prepared for Anti-Money Laundering Regulations Amidst Global Uncertainty
Liechtenstein has taken significant steps to strengthen its stance against financial crimes, ensuring compliance with banking regulations aimed at preventing money laundering. The country’s efforts have been recognized by the OECD Global Forum, which confirmed Liechtenstein’s high degree of tax compliance with an overall rating of “Largely Compliant”.
Commitment to Anti-Money Laundering Regulations
As part of its commitment to anti-money laundering (AML) regulations, Liechtenstein has welcomed a recent political agreement reached at the EU level on new disclosure rules for sustainable investment. This move is seen as a significant step towards enhancing transparency and accountability in the financial sector.
New Double Taxation Agreement with Italy
Liechtenstein has also signed a new double taxation agreement with Italy, further solidifying its commitment to tax cooperation and information exchange. The country has made progress in implementing PSD 2, a digital payment regulation aimed at increasing security and convenience for customers.
Proactive Approach to AML Regulations
Liechtenstein’s banking regulator has taken a proactive approach to AML regulations, introducing measures to prevent the misuse of financial systems by criminals. This move is seen as a major step forward in the fight against dirty money, with the country’s bankers association welcoming the efforts.
Commitment to Sustainability
Furthermore, Liechtenstein has also welcomed the EU’s Sustainability Taxonomy, which aims to promote environmentally friendly investments and reduce the impact of financial activities on the environment. The country’s commitment to sustainability is evident in its roadmap for sustainable development, which prioritizes environmental protection and social responsibility.
Conclusion
Overall, Liechtenstein’s efforts to strengthen its AML regulations and commitment to sustainability demonstrate its determination to remain a responsible and transparent financial center in Europe. As the country continues to navigate global uncertainty following Brexit, its proactive approach to regulatory compliance is likely to pay dividends in the long run.