Advisory Information
advis19a.pdf161.36 KB
Issued Date
Transactions Involving Liechtenstein

FinCEN Advisory

This Advisory is being issued to inform banks and other financial institutions operating in the United States that Financial Crimes Enforcement Network (FinCEN) Advisory 19, regarding the Principality of Liechtenstein, is hereby withdrawn.

Since the issuance of Advisory 19, Liechtenstein has enacted significant reforms to its counter-money laundering system, addressing the points noted in Advisory 19, and has taken concrete steps to bring these reforms into effect. Because of the enactment of new laws and the beginning of effective implementation, enhanced scrutiny with respect to transactions involving Liechtenstein, as called for in Advisory 19, is no longer necessary. Liechtenstein now has in place a countermoney laundering system that generally meets international standards, as reflected in the recent decision of the Financial Action Task Force on Money Laundering to remove Liechtenstein from its list of countries that are non-cooperative in the fight against money laundering.

The withdrawal of Advisory 19 does not relieve institutions of their pre-existing and on-going obligation to report suspicious activity, as set forth in regulations issued by FinCEN and by the federal bank supervisory agencies, as well as their obligation to comply with all other applicable provisions of law.

James F. Sloan