Liechtenstein Takes Proactive Measures Against Money Laundering and Financing of Terrorism

As a member of the European Economic Area (EEA) and MONEYVAL, Liechtenstein adheres to EU Anti-Money Laundering/Countering Financing of Terrorism (AML/CFT) provisions. In an effort to maintain its reputation as a secure financial hub, the country has implemented a robust strategy to combat money laundering and financing of terrorism.

A Strong Foundation for Anti-Financial Crime Efforts

Liechtenstein’s approach involves close cooperation between national authorities and financial market participants. This collaboration ensures that international standards are met, while also addressing the nation’s specific interests. By acknowledging the critical role of both authorities and financial institutions in preventing ML and FT, Liechtenstein has established a strong foundation for its anti-financial crime efforts.

Risk Assessment and Mitigation

Liechtenstein authorities conduct thorough risk assessments to identify vulnerabilities in the country’s AML/CFT regime. These assessments involve data analysis and information gathering to pinpoint areas that require improvement. By adopting a global perspective, Liechtenstein acknowledges that risks transcend national borders and takes steps to mitigate them.

• Blockchain Act: The introduction of the Blockchain Act in 2020 marked a significant milestone in Liechtenstein’s efforts to regulate virtual assets. This comprehensive regulation has enabled authorities to assess and address associated ML/FT risks.
• Monitoring Market Developments: The country remains vigilant, monitoring market developments and adjusting its approach as needed.

Cooperation and Exchange of Information

Liechtenstein prioritizes cooperation with international partners, including the United States, to enhance its anti-financial crime capabilities. Close collaboration on a strategic and operational level with US authorities such as FinCEN, the Office of Foreign Asset Controls, the Department of Justice, and the Securities and Exchange Commission will help to strengthen Liechtenstein’s AML/CFT measures.

By implementing a robust strategy, conducting regular risk assessments, and fostering international cooperation, Liechtenstein aims to maintain its position as a secure and reliable financial hub while combating ML and FT.