Liechtenstein’s Financial Market Authority Recognized for Efforts Against Money Laundering and Terrorism Financing

The Financial Market Authority (FMA) of Liechtenstein has received praise from the MONEYVAL report, part of the FATF-style regional bodies, for its efforts in combating money laundering and the financing of terrorism. The report acknowledges the significant progress made by Liechtenstein in implementing international standards set by the FATF.

Key Points from the Report

1. Broad Understanding of ML/TF Risks

• The FMA has demonstrated a strong supervisory approach and a broad understanding of its money laundering and financing of terrorism (ML/TF) risks.
• This shows a clear commitment to identifying and mitigating potential threats.

2. Effective AML/CFT Supervision

• MONEYVAL commends the FMA’s risk-based supervision strategy, which includes policies and procedures for effective implementation.
• The authority is praised for its efficient processes and well-suited oversight system.

3. High Compliance Rating

• Liechtenstein scored above average in five of the eleven subject areas examined (“11 Immediate Outcomes”).
• The country achieved a high level of technical compliance (37 out of 40 recommendations).

4. Positive Assessment

• The report acknowledges the progress made by Liechtenstein and encourages further strengthening of measures to combat money laundering and the financing of terrorism.

Conclusion

The FMA’s efforts have been recognized as effective in implementing the international standards set by the FATF, demonstrating a strong commitment to combating financial crime. This achievement is a testament to the authority’s dedication to creating a secure and transparent financial environment for its citizens.