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Financial Crime Investigation Methods in Liechtenstein Prove Effective, Despite Room for Improvement
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A recent evaluation of Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) efforts in Liechtenstein has revealed significant strides made by the country since its last mutual evaluation. While progress is evident, particularly in aligning its legal framework with Financial Action Task Force (FATF) recommendations, effective implementation remains uneven.
Strengths
- Robust institutional framework: Liechtenstein’s institutions have been praised for their effectiveness.
- Strong domestic cooperation: Key stakeholders enjoy trust from both financial and non-financial sectors.
- Proactive use of in rem regime: The country’s proactive approach to confiscating criminal proceeds has proven particularly effective.
Areas for Improvement
- Effective implementation of AML/CFT measures: While progress has been made, there is still room for improvement in the optimal implementation of these measures.
- Addressing challenges: Liechtenstein must continue to address the challenge of uneven implementation.
Conclusion
Despite areas for improvement, the report concludes that Liechtenstein’s efforts demonstrate a commitment to combating financial crime and ensuring the integrity of its financial system. As the country continues to evolve its approach, it remains an important player in global efforts to prevent money laundering and terrorist financing.