Financial Crime World

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MONEYVAL Evaluation Report: Liechtenstein’s Compliance with AML/CFT Standards

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MONEYVAL, an organization that monitors and evaluates the effectiveness of anti-money laundering (AML) and combating the financing of terrorism (CFT) measures in its member states, has published a report on Liechtenstein’s compliance with international standards.

Key Findings

The evaluation report highlights several key points about Liechtenstein’s performance:

  • Strong AML/CFT Framework: The report shows that Liechtenstein has a broad understanding of its money laundering (ML)/terrorist financing (TF) risks and a strong supervisory approach is in place.
  • High Compliance with FATF Recommendations: Liechtenstein scored highly, with 37 out of 40 recommendations being rated as “compliant” or “largely compliant.”
  • Effective Implementation of the Legal Framework: Liechtenstein scored above average in five of the eleven subject areas examined and showed a moderate level of effectiveness in the other areas.
  • Quality of AML/CFT Supervision: The report praises the Financial Market Authority (FMA) for operating a consistent risk-based supervision, strengthening its AML/CFT supervisory strategy and organization in 2018, and increasing its understanding of ML/TF risks.

Recommendations

The report acknowledges the progress made by Liechtenstein and encourages the country to continue improving its measures to combat money laundering and the financing of terrorism.