Liechtenstein Fails to Meet Anti-Money Laundering Standards

Global Watchdog Criticizes Country’s Efforts Against Financial Crime

A recent evaluation of Liechtenstein’s anti-money laundering (AML) laws and regulations has revealed shortcomings in the country’s efforts to combat financial crime. The assessment, conducted by the Financial Action Task Force (FATF), was based on a comprehensive review of the country’s AML framework against international standards.

Key Findings of the Assessment

• The evaluation team obtained information from Liechtenstein officials during an on-site visit and analyzed data provided by the government.
• While the country has made some progress in implementing AML measures, it still falls short in several key areas.

Priorities for Improvement

The findings of the assessment have been thoroughly reviewed and endorsed by the FATF, which has identified priority actions that Liechtenstein must take to strengthen its AML regime. These priorities include:

• Enhancing customer due diligence procedures
• Improving monitoring of transactions and reporting suspicious activities
• Strengthening cooperation with international partners to combat money laundering and terrorist financing

By addressing these shortfalls, Liechtenstein can better protect itself and the global financial system from the risks associated with money laundering and other financial crimes.