Financial Crime World

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Liechtenstein’s Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Framework: Evaluation Report Summary

Money Laundering (ML)

Convictions and Enforcement

  • The judiciary has achieved convictions for all three types of ML cases, but self-laundering of proceeds of fraud committed abroad is still prevalent.
  • Third-party laundering and autonomous ML prosecutions are encountered infrequently.

Sanctions for ML Offences

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

Confiscation of Proceeds of Crime

Framework and Implementation

  • Confiscation is pursued as a policy objective, with a comprehensive legal framework in place.
  • Competent authorities carry out financial investigations parallel to crime investigations.
  • Inter-institutional cooperation is strong, and judicial authorities are vigilant about freezing orders for proceeds and instrumentalities of crime.

Terrorist Financing (TF)

Prosecutions and Convictions

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

Counter-Terrorist Financing (CTF) Framework

International Cooperation

  • Liechtenstein has a framework treaty with Switzerland for cross-border controls.
  • Communication between the Swiss Border Guard Corps and the National Police is intensive and smooth.

Weaknesses in the System

  • There are weaknesses in the system, particularly in terms of cooperation with foreign authorities.

Areas for Improvement

  1. Strengthening Sanctions: Strengthen sanctions for ML offences to make them proportionate and dissuasive.
  2. Increasing Awareness and Cooperation: Increase awareness and cooperation among competent authorities on TF issues.
  3. Enhancing Inter-Institutional Cooperation: Enhance inter-institutional cooperation with foreign authorities to improve the effectiveness of CTF measures.