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Liechtenstein Cracks Down on Compliance Risks in International Transactions

The Principality of Liechtenstein has strengthened its efforts to combat money laundering and terrorist financing, adhering to strict international standards. The country’s financial regulatory body, the Financial Market Authority (FMA), has been at the forefront of this initiative, working closely with other authorities and institutions to ensure compliance.

Enhanced Anti-Money Laundering Framework

Liechtenstein has implemented a comprehensive anti-money laundering framework, in line with European Union directives and international standards. The country’s Due Diligence Act and Ordinance provide for:

• Robust client identification and verification procedures
• Ongoing transaction monitoring
• Reporting of suspicious activities to the Financial Intelligence Unit (FIU)

Financial Intelligence Unit: A Key Component

The FIU plays a crucial role in receiving and analyzing reports from financial institutions and other stakeholders. The unit’s analysis is then shared with law enforcement agencies, enabling them to initiate investigations and take action against potential money laundering or terrorist financing activities.

Prosecution Authorities: Ensuring Enforcement

Liechtenstein’s prosecution authorities have been empowered to investigate and prosecute cases of money laundering and related offenses. In collaboration with the FIU, they work tirelessly to bring perpetrators to justice and prevent further illicit activities.

Compliance with International Standards

Liechtenstein has demonstrated its commitment to international cooperation in combating money laundering and terrorist financing. The country’s participation in:

• MONEYVAL, an FATF-style regional body
• Regular reviews by the Financial Action Task Force (FATF) ensures that it remains aligned with global best practices.

MONEYVAL Report Praises Liechtenstein’s Efforts

A recent report by MONEYVAL acknowledged Liechtenstein’s progress in improving its measures to combat money laundering and terrorist financing. The country was commended for:

• Its strong supervisory approach
• Robust client identification procedures
• Effective reporting mechanisms

This positive assessment reflects Liechtenstein’s dedication to maintaining a secure and transparent financial environment.

European Cooperation

As an EEA member, Liechtenstein cooperates closely with other European countries in combating money laundering and terrorist financing. The country participates actively in the AML CFT Standing Committee (AMLSC), which develops regulatory technical standards and guidelines for the financial sector.