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Financial Action Task Force (FATF) Report on Liechtenstein’s Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Measures
Introduction
The FATF report assesses Liechtenstein’s progress in implementing AML/CFT measures, highlighting key areas of improvement and challenges.
Money Laundering (ML)
Progress and Challenges
- Liechtenstein has made significant progress in implementing AML/CFT measures.
- The country has achieved convictions for all three types of ML cases, but self-laundering remains a prevailing typology.
Sanctions and Confiscation
- Sanctions imposed by Liechtenstein courts are not proportionate and dissuasive.
- Confiscation of proceeds is pursued as a policy objective, with strong inter-institutional cooperation and frequent application of confiscation.
Terrorist Financing (TF)
Prosecutions and Convictions
- There have been no TF prosecutions or convictions in Liechtenstein so far.
Risk Assessment and Strategy
- The national TF risk assessment concluded that the risk of TF in Liechtenstein is medium.
- No specific counter-terrorism-related strategy has been developed by the country, but a TF Strategy aims to develop the ability to prevent/suppress TF.
Compliance with FATF Recommendations
Implementation of UN TFS
- Liechtenstein’s legal framework ensures automatic implementation of UN TFS related to TF/PF into the national framework.
Legislation and Supervision
- The country has recently further amended its legislation in line with FATF Recommendations covering TF/PF TFS-related supervision, procedures for designation, listing, and delisting.