Financial Crime World

Liechtenstein Takes Decisive Action Against Money Laundering and Terrorist Financing

Maintaining a Secure Financial Centre

In an effort to uphold its reputation as a reliable international financial centre, Liechtenstein has reaffirmed its dedication to combating money laundering and terrorist financing. As a member of the European Economic Area (EEA) and MONEYVAL, the Council of Europe’s Committee of Experts on Money Laundering and Terrorist Financing, Liechtenstein adheres to stringent anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations.

Implementing International Standards

Liechtenstein has taken a proactive approach to AML/CFT efforts by:

  • Implementing international standards and recommendations from organizations such as the Financial Action Task Force (FATF)
  • Fostering close cooperation between national authorities and financial market participants
  • Ensuring that its financial centre remains secure

Comprehensive National Risk Assessment Framework

Liechtenstein recognizes that effectively combating money laundering and terrorist financing is a key advantage of its business location, alongside the quality of services and the business environment. To address this, it has implemented a comprehensive national risk assessment framework to identify, assess, and mitigate risks.

Key Achievements

  • In 2018, Liechtenstein conducted a thorough national risk assessment of money laundering and terrorist financing risks
  • The results were updated and expanded in 2022
  • MONEYVAL published a positive report on Liechtenstein’s progress in June 2022
  • Liechtenstein is one of only five member countries that are subject only to the regular MONEYVAL reporting process, indicating its strong commitment to AML/CFT efforts

Conclusion

Liechtenstein takes decisive and comprehensive action against money laundering and terrorist financing. Its proactive approach, prioritizing effective risk management and cooperation between authorities and financial market participants, demonstrates its dedication to maintaining a secure and trustworthy financial environment for both domestic and international clients.