Liechtenstein's Anti-Money Laundering Efforts

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Liechtenstein’s Anti-Money Laundering (AML) and Combating Terrorism Financing (CFT) Measures

Money Laundering

Liechtenstein’s judiciary has made significant progress in combating money laundering, but there are still areas for improvement. Some key points to note include:

Convictions for Money Laundering: The judiciary has achieved convictions for all three types of money laundering (ML) cases. However, self-laundering of proceeds from fraud committed abroad is still a prevailing typology.
Sanctions Imposed by Liechtenstein Courts: Sanctions imposed by Liechtenstein courts for ML offenses are not proportionate and dissuasive. This suggests that the current sanctions framework may need to be revised to ensure it is effective in deterring money laundering activities.
Confiscation of Proceeds of Crime: Confiscation of the proceeds of crime is pursued as a policy objective, with competent authorities regularly carrying out financial investigations parallel to any proceeds-generating crime investigation.

Terrorist Financing

While Liechtenstein has made efforts to combat terrorist financing (TF), there are still challenges to be addressed. Some key points to note include:

Lack of TF Prosecutions and Convictions: There have been no TF prosecutions or convictions in Liechtenstein so far, indicating that the country’s TF laws may need to be strengthened.
National TF Risk Assessment: The national TF risk assessment concluded that the risk of TF in Liechtenstein is medium. This suggests that the country should continue to prioritize its TF efforts.
TF Investigation: One TF investigation was carried out, but it did not result in further proceedings as no evidence of TF was found.

Overall Assessment

Liechtenstein has a framework treaty with Switzerland, which stipulates that the execution of cross-border controls is delegated to the Swiss Border Guard Corps. However, certain weaknesses in the system have been identified. Overall, Liechtenstein’s AML/CFT measures are generally considered effective, but there are areas for improvement.

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