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Anti-Money Laundering (AML) and Combating Terrorist Financing (CFT) Efforts in Liechtenstein

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Liechtenstein has made significant efforts to combat money laundering and terrorist financing, as outlined in its executive summary report. This article provides a brief summary of each section, focusing on the main points.

Money Laundering

Convictions and Typologies

• The judiciary has achieved convictions for all three types of money laundering cases.
• Self-laundering of proceeds from fraud committed abroad is a prevailing typology, while third-party laundering and autonomous ML prosecutions are encountered infrequently.

Sanctions Imposed by Liechtenstein Courts

• Sanctions imposed by Liechtenstein courts for ML offenses are not proportionate and dissuasive.

Confiscation of Proceeds

Policy Objective and Cooperation

• Confiscation of the proceeds of crime is pursued as a policy objective.
• Competent authorities have strong inter-institutional cooperation, and judicial authorities are vigilant in freezing orders to prevent asset dissipation.

Types of Confiscation

• Both conviction- and non-conviction-based confiscation, including equivalent value, are frequently applied.

Cross-Border Controls

Framework Treaty with Switzerland

• Liechtenstein has a framework treaty with Switzerland for cross-border controls, which is executed by the Swiss Border Guard Corps.
• Communication between the Swiss Border Guard Corps and the National Police is smooth, but there are some weaknesses in the system.

Terrorist Financing (TF)

Prosecutions and Convictions

• There have been no TF prosecutions or convictions in Liechtenstein so far.

National TF Risk Assessment

• The national TF risk assessment concluded that the risk of TF in Liechtenstein is medium.
• One TF investigation was carried out, but it did not result in further proceedings as no evidence of TF was found.

Proportionality and Dissuasiveness

Sanctions for TF Offense

• Since there have been no prosecutions or convictions for TF, no conclusion can be made on the proportionality and dissuasiveness of sanctions applied.
• Sanctions, as envisaged by the CC for the TF offense, appear proportionate and dissuasive.

Counter-Terrorism Strategy

Development of a TF Strategy

• Liechtenstein has developed a TF strategy to prevent and suppress TF, but there is no specific counter-terrorism-related strategy developed by the country.