The Liechtenstein Financial Market Authority has published a summary of the most important findings from its 2024 inspection cycle on compliance with the Liechtenstein Anti-Money Laundering Act. The risk-based inspections combine an institutional and organisational review of the firm with testing of individual customer files to assess whether legally required due diligence measures were applied to specific customers. The summary covers inspections across the banking, life insurance, asset management, fund and fiduciary sectors and includes examples of good and bad practices observed. In total, 134 obliged persons were subject to independent on-site inspections in 2024, with feedback letters focusing in particular on structural and procedural organisation, risk-adequate monitoring, processes for suspicious activity reports and inspection activities, and reporting obligations related to restrictive measures (sanctions).
Liechtenstein Financial Market Authority 2025-05-21
Liechtenstein Financial Market Authority publishes key findings from 2024 AML Act inspections of 134 obliged persons
The Liechtenstein Financial Market Authority released a summary of its 2024 inspection cycle on compliance with the Liechtenstein Anti-Money Laundering Act. The inspections, covering banking, life insurance, asset management, fund, and fiduciary sectors, assessed due diligence measures and included examples of good and bad practices. Feedback focused on structural and procedural organization, risk monitoring, suspicious activity reporting, and sanctions compliance.