IMF Board Reviews Issues Surrounding Work on Offshore Financial Centers, (July 10, 2000, NB/00/62, http://www.imf.org/external/np/sec/nb/2000/nb0062.htm.) Offshore Financial Centers—The Role of the IMF, (June 23, 2000–SM/00/136, http://www.imf.org/external/np/mae/oshore/2000/eng/role.htm.
The mission conducted the AML/CFT assessment based on the October 2002 final methodology that was endorsed by the Financial Action Task Force at their plenary meeting on October 11, 2002.
The mission team recommends in the section of the report, “Proposal to create an integrated financial supervisory authority,” that while it is still appropriate to rely on external auditors for supervision tasks, the FSA should also have capacity to carry out some on-site inspection tasks.
Liechtenstein is a member of the PC-R-EV, which is a FATF-Style Regional Body. Since the earlier assessments, the PC-R-EV has changed its name to Moneyval.
Group one jurisdictions were viewed to be cooperative, with adequate legal and supervisory systems adhering to international standards. Group-two jurisdictions were viewed as having most components for supervision and cooperation in place, but fall short of meeting international standards.
The assessment was carried out by Mr. Michael Deasy (Central Bank of Ireland) and Mr. Alain Vedrenne-Lacombe (Bank of France).
Following the close of the mission, the authorities report the creation of two additional professional positions, one of the positions was filled in June 2003.
The assessment was conducted by Ms. Jennifer Elliott.
The assessment was conducted by Mr. Guillaume Leroy, JWA-Actuaires France.
The Executive Order on the Law on Supervision of Insurance Undertakings, 1996, is also highly relevant, as it details the practical application of the 1995 Insurance Supervision Law.
The assessment was conducted by Ms. P. Moni SenGupta (LEG), Mr. Ronald Ranochak (private consultant), and Boudewijn Verhelst (CTIF-CFI, Belgium), the independent anti-money laundering expert (IAE). Throughout this report, portions of the assessment attributable to the IAE are shown in italics.