Financial Crime World

Financial Crime on the Rise in Liechtenstein as Financial Market Authority Tightens Grip

Vaduz, Principality of Liechtenstein - A Series of High-Profile Cases Prompts Drastic Action from FMA

The financial sector in the Principality of Liechtenstein has been shaken by a series of high-profile cases of financial crime in recent years. In response, the Financial Market Authority (FMA) has taken decisive action to combat market abuse and protect customers through effective enforcement policies.

Key Statistics Highlighting the FMA’s Efforts

  • 88 administrative proceedings or criminal investigations were opened by the FMA during the reporting period.
  • A total of 192 ongoing proceedings or preliminary investigations were concluded, resulting in:
    • Fines totaling 1,489,500 Swiss francs for violations of banking law, market manipulation, insider trading, and transactions involving clone companies.
    • One individual case resulted in a fine amounting to 500,000 Swiss francs.

FMA Takes Action Against Suspected Financial Crimes

The FMA has lodged nine criminal complaints against individuals suspected of:

  • Market abuse
  • Accepting deposits without authorization
  • Insider trading
  • Other financial crimes

These complaints were forwarded to the responsible public prosecutor’s office for further investigation.

Regulatory Efforts to Stay Ahead of New Technologies

In response to emerging technologies like digitalization and cryptocurrencies, the FMA has developed new regulations for:

  • Securities trading
  • Digitalization
  • Cryptocurrencies trading

A revised version of the Financial Market Act is scheduled to be finalized by January 1, 2025.

Expert Commentary on the Importance of FMA’s Efforts

“The FMA’s efforts to regulate the financial sector are crucial in preventing financial crime and protecting investors. The authority’s commitment to transparency and accountability is reassuring for consumers and businesses alike.”

— [Expert Quote]

FMA’s Commitment to Financial Sector Stability and Customer Protection

In a statement, the FMA emphasized its dedication to ensuring the stability of the financial sector and protecting customers from financial crime:

“We will not tolerate any form of market abuse or financial malpractice.”