This assessment of the anti-money laundering (AML) and combating the financing of terrorism (CFT) regime of Liechtenstein is based on the Forty Recommendations 2003 and the Nine Special Recommendations on Terrorist Financing 2001 of the Financial Action Task Force (FATF), and was prepared using the AML/CFT assessment Methodology 2004, as updated. The assessment team considered all the materials supplied by the authorities, the information obtained on site during their mission from March 21–April 4, 2007, and other verifiable information subsequently provided by the authorities. During the mission, the assessment team met with officials and representatives of all relevant government agencies and the private sector. A list of the bodies met is set out in Annex 1 to the detailed assessment report.
The assessment was conducted by a team of assessors composed of staff of the International Monetary Fund (IMF) and an expert acting under the supervision of the IMF. The evaluation team consisted of: Terence Donovan (LEG, team leader); Paul Ashin, Gabriele Dunker, and Alain Vedrenne-Lacombe (LEG); and Boudewijn Verhelst (legal and law enforcement expert, Deputy Head of the Belgian FIU). Mr. Verhelst also acted as assessor for MONEYVAL during the on-site visit to address the provisions of relevant EU Directives that are not within the Fund’s AML/CFT mandate. The assessors reviewed the institutional framework, the relevant AML/CFT laws, regulations, guidelines and other requirements, and the regulatory and other systems in place to deter and punish money laundering (ML) and the financing of terrorism (FT) through financial institutions (FIs) and Designated Non-Financial Businesses and Professions (DNFBPs). The assessors also examined the capacity, implementation, and effectiveness of all these systems.
See full Report.
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