Financial Crime World

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Financial Crime Investigative Techniques in Liechtenstein Shine as Country Maintains Zero-Tolerance Policy

Liechtenstein has consistently prioritized anti-money laundering and combating the financing of terrorism (AML/CFT) efforts, adopting a strict zero-tolerance approach towards financial crime. As an European Economic Area (EEA) member state, Liechtenstein has implemented the 4th and 5th EU Anti-Money Laundering Directives, as well as Regulation (EU) 2015/847 on information accompanying transfers of funds.

Anti-Money Laundering Regime

The country’s anti-money laundering regime is overseen by several key authorities. The Financial Market Authority (FMA), responsible for monitoring compliance with AML/CFT obligations, imposes measures and sanctions where violations occur. Financial institutions, trust service providers, and designated non-financial businesses and professions (DNFBPs) are subject to due diligence requirements outlined in the Law on Professional Due Diligence for the Prevention of Money Laundering, Organised Crime and Financing of Terrorism.

Obligations

These obligations include:

  • Identifying and verifying clients, beneficial owners, and source of funds and wealth
  • Ongoing transaction monitoring
  • Reporting suspicious transactions
  • Identifying and reporting suspicious activity

The Financial Intelligence Unit (FIU) receives and analyzes reports of suspicion from authorities and persons subject to due diligence, and forwards its findings to the Office of the Public Prosecutor for further investigation.

International Cooperation

Liechtenstein has been actively participating in international efforts to combat financial crime for decades, guided by the Financial Action Task Force (FATF) standards. At the EU/EEA level, the European Banking Authority (EBA) centralizes AML/CFT responsibilities relating to the financial market, with the AML CFT Standing Committee (AMLSC) developing regulatory technical standards and guidelines.

The FMA represents Liechtenstein in the AMLSC as a non-voting member. The country’s cooperation at the EU/EEA level has been recognized by MONEYVAL, which praised Liechtenstein’s efforts to harmonize its AML/CFT measures with those of other European countries.

Recognition

MONEYVAL, a FATF-style regional body based at the Council of Europe in Strasbourg, has praised Liechtenstein’s strong supervisory approach and broad understanding of money laundering and terrorist financing risks. The report also noted the country’s progress since the previous evaluation and encouraged further intensification of AML/CFT measures.

Overall, Liechtenstein’s zero-tolerance policy towards financial crime, combined with its strong anti-money laundering regime and international cooperation, has earned recognition from MONEYVAL and demonstrates the country’s commitment to combating financial crime.