Financial Crime World

Liechtenstein Grapples with Terrorism Financing Laws, FATF Report Reveals

Inadequate Efforts to Combat Terrorism Financing Exposed

A recent evaluation by the Financial Action Task Force (FATF) has revealed that Liechtenstein’s efforts to combat terrorism financing laws are falling short. The assessment, conducted using the 2012 FATF Recommendations and a methodology developed in 2013, highlighted several areas of concern for the country.

Deficiencies Identified

According to sources close to the investigation, the evaluation was based on information provided by the Liechtenstein government as well as data gathered during an on-site visit to the country. The findings have been reviewed and endorsed by the FATF, with a comprehensive report outlining key deficiencies and priority actions expected to be taken by the government.

Key Findings

  • The report highlights critical areas for improvement in Liechtenstein’s anti-terrorism financing regime.
  • The evaluation was based on information provided by the Liechtenstein government as well as data gathered during an on-site visit to the country.

Priority Actions Expected

The FATF report outlines key deficiencies and priority actions expected to be taken by the government. While specific details of the assessment can be found in the Executive Summary, some of the critical areas for improvement include:

  • Strengthening customer due diligence measures
  • Improving terrorist financing risk assessments
  • Enhancing international cooperation and information sharing
  • Increasing resources and capacity for financial intelligence and analysis

Next Steps

The full details of the assessment can be found in the Executive Summary. The Liechtenstein government is expected to take swift action to address these deficiencies and improve its anti-terrorism financing regime.

Note: The report highlights critical areas for improvement in Liechtenstein’s anti-terrorism financing regime, but does not provide a comprehensive overview of the country’s terrorism financing laws. For further information, please refer to the Executive Summary or contact the FATF directly.