Liechtenstein Tightens Belts on Anti-Money Laundering Regulations

International Scrutiny on Banking Sector Intensifies

Liechtenstein’s banking sector is under intense scrutiny to adhere to international anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations. The Liechtenstein Bankers Association (LBA) has pledged its commitment to swiftly implementing global standards into domestic law.

Adherence to International Regulations

• FATF Recommendations: Key to this effort are the 40 + 9 Recommendations of the Financial Action Task Force (FATF), which aim to prevent and combat money laundering and terrorist financing.
• European Union Directives: Liechtenstein has transposed EU directives, including the revised 4th EU Anti-Money Laundering Directive and the EU Funds Transfer Regulation, into domestic law through the Due Diligence Act and Ordinance.

Regular Revisions Ensure Compliance

Regular revisions to these regulations ensure Liechtenstein’s compliance with international developments. As a member of MONEYVAL, the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, Liechtenstein has been assessed by MONEYVAL alongside the International Monetary Fund.

Praise for Robust AML/CFT Compliance

In its most recent evaluation, MONEYVAL praised Liechtenstein for meeting high standards in AML/CFT compliance. The country’s robust approach to regulating money laundering and terrorism financing is seen as a major achievement, reinforcing its position as a responsible global financial actor.