Anti-money laundering and combating the financing of terrorism (AML/CFT) as well as compliance with international sanctions are among the key responsibilities of the Liechtenstein banks and are a major concern of the Liechtenstein Bankers Association (LBA). The LBA is committed to the rapid implementation into domestic law of international standards and requirements.
These include in particular the 40 + 9 Recommendations of the Financial Action Task Force (FATF) and the directives and regulations of the European Union (EU). The key provisions at the EU level are essentially the 4th EU Anti-Money Laundering Directive, which was already partially revised in June 2018 with the 5th EU Anti-Money Laundering Directive, and the EU Funds Transfer Regulation. The international AML requirements are transposed domestically in the Due Diligence Act and the Due Diligence Ordinance. These provisions are regularly revised and adapted in light of international developments.
Liechtenstein is also a member of MONEYVAL, the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism. Together with the International Monetary Fund, MONEYVAL regularly assesses Liechtenstein in regard to compliance with the international AML/CFT provisions. In the most recent assessment, MONEYVAL attested that Liechtenstein meets high standards. The next MONEYVAL assessment is planned for early 2020.
International/European legal bases
Financial Market Authority
National legal bases