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Combating Money Laundering, Terrorist Financing, and Proliferation Financing in Liechtenstein

A Comprehensive Strategy for a Safer Financial System

The Government of Liechtenstein has outlined a comprehensive strategy to combat money laundering, terrorist financing, and proliferation financing in the country. The strategy aims to strengthen Liechtenstein’s defenses against these financial crimes by implementing four main goals.

Goal 1: Essential Measures

Safeguarding International Reputation

The first goal is to ensure the effectiveness of measures taken to combat money laundering and terrorist financing. This includes safeguarding the country’s international reputation by fulfilling its obligations under relevant international standards.

Key Objectives:

  • Fulfill international obligations
  • Maintain a strong reputation
  • Prevent reputational damage

Goal 2: Risk-Based Focus

Identifying and Mitigating Risks

The second goal is to increase the effectiveness in combating money laundering and terrorist financing through a risk-based approach, focusing on identifying and mitigating existing and future risks.

Key Objectives:

  • Identify high-risk areas
  • Implement risk mitigation measures
  • Enhance supervision and monitoring

Goal 3: Effective Prosecution

Investigating Financial Flows

The third goal is to ensure effective prosecution of money laundering and terrorist financing cases. This includes investigating financial flows, identifying perpetrators, and strengthening international cooperation.

Key Objectives:

  • Investigate financial flows
  • Identify perpetrators
  • Enhance international cooperation

Goal 4: National and International Cooperation

Strengthening Coordination and Exchange of Information

The fourth goal is to further intensify national and international cooperation, coordination, and exchange of information between authorities involved in combating money laundering and terrorist financing.

Key Objectives:

  • Enhance coordination
  • Improve information exchange
  • Strengthen partnerships

Implementation of the Strategy

To implement this strategy, the Government will take the following steps:

  1. Instruct the PROTEGE Working Group to take necessary measures as defined.
  2. Adopt a plan of action setting out specific fields of action, timetables, competent authorities, and resources.
  3. Continuously update and extend the plan by the PROTEGE Working Group, if necessary.

Benefits of the Strategy

The strategy aims to strengthen Liechtenstein’s defenses against money laundering and terrorist financing by:

  • Improving risk management and supervision
  • Enhancing international cooperation and coordination
  • Strengthening effective prosecution
  • Further developing an institutionalized public-private partnership between authorities and persons subject to due diligence

Conclusion

Overall, the strategy seeks to ensure that Liechtenstein fulfills its obligations under relevant international standards, effectively combats money laundering and terrorist financing, and contributes to global efforts in this area.