BERMUDA AND LIECHTENSTEIN – TWO FINANCIAL SECTORS SEEKING TO EVADE AML/CFT CENSURES
April 1st, 2019
Bermuda and Liechtenstein may be half a world apart, but these two financial centres are similarly attractive destinations for parking money, the former with a dominant insurance sector, the latter specialising in tending the assets of the German super-rich. While both jurisdictions have strong privacy laws, they have managed to avoid being labelled by the Financial Action Task Force (FATF) as having weak AML/CFT laws.
Their governments know that cautious overseas clients might be deterred from sinking money into their financial institutions if Bermuda and ...
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