Financial Crime World

Liechtenstein’s Commitment to Anti-Money Laundering and Combating Terrorism Financing

Introduction

Liechtenstein has been at the forefront of international efforts to prevent money laundering and combat terrorism financing for decades. As a member of the European Economic Area (EEA), Liechtenstein has implemented various EU directives and regulations to ensure a strong commitment to anti-money laundering (AML) and combating terrorism financing (CFT).

A Zero-Tolerance Policy

At the heart of Liechtenstein’s AML regime is a zero-tolerance policy towards financial crimes. The country’s authorities work closely together to monitor compliance with relevant obligations and impose measures and sanctions where necessary.

Key Players

  • Financial Market Authority (FMA): Plays a crucial role in monitoring compliance with anti-money laundering rules.
  • Financial Intelligence Unit (FIU): Responsible for receiving and analyzing reports of suspicion from persons subject to due diligence and public authorities.
  • Office of the Public Prosecutor: Examines FIU’s analysis reports and initiates investigations where appropriate.
  • Office of Justice: Maintains the Register of Beneficial Owners of Legal Entities.

Compliance with International Standards

Liechtenstein has been actively participating in AML/CFT efforts for decades, guided by the international standards of the Financial Action Task Force (FATF). Since 1999, Liechtenstein has been a member of MONEYVAL, an FATF-style regional body.

MONEYVAL Praise

In its fifth report on Liechtenstein, published in June 2022, MONEYVAL acknowledged the country’s progress in improving measures to combat money laundering and financing of terrorism. Liechtenstein performed very well in comparison with other countries already evaluated and will be subject to the regular MONEYVAL follow-up process.

Cooperation at the European Level

At the EU/EEA level, AML/CFT responsibilities relating to the financial market have been centralised at the European Banking Authority (EBA). The FMA represents Liechtenstein in the AMLSC as a non-voting member.