Combating Money Laundering and Terrorist Financing in Liechtenstein
Goals
The goal of this strategy is to ensure effective prevention, detection, investigation, and prosecution of money laundering and terrorist financing activities in Liechtenstein, while promoting international cooperation and coordination.
Key Objectives
- Prevention: Implement measures to prevent money laundering and terrorist financing, taking into account specific risks identified for Liechtenstein.
- Risk-based focus: Increase effectiveness in combating money laundering and terrorist financing through a risk-based approach, improving risk management by persons subject to due diligence.
- Effective prosecution: Ensure effective prosecution of money laundering and terrorist financing cases, with the Government continuing to provide a legal framework for investigation and prosecution.
- International cooperation: Intensify national and international cooperation, coordination, and exchange of information between authorities to combat money laundering and terrorist financing.
Implementation
The PROTEGE Working Group will be responsible for implementing this strategy. Annual progress reports will be submitted by the working group, outlining the fields of action, timetables, competent authorities, and necessary resources required to implement the strategy.
Action Plan
The Government will adopt an action plan that outlines specific areas of focus, including:
- Comprehensive risk assessments to identify and mitigate existing and future risks.
- Continuous development of supervisory authorities and intensification of exchanges between authorities and financial market stakeholders.
- Effective prosecution through investigation and investigation support.
- International cooperation and exchange of information with international partners.
Key Measures
- Comprehensive risk assessments: Identify and mitigate existing and future risks to prevent money laundering and terrorist financing activities.
- Supervisory authority development: Continuously develop supervisory authorities and intensify exchanges between authorities and financial market stakeholders.
- Effective prosecution: Ensure effective investigation and support for investigation, leading to successful prosecutions of money laundering and terrorist financing cases.
- International cooperation: Intensify national and international cooperation, coordination, and exchange of information with international partners to combat money laundering and terrorist financing.
Conclusion
The strategy aims to strengthen Liechtenstein’s defenses against money laundering and terrorist financing, while promoting international cooperation and coordination in this area. Through the implementation of these key measures, Liechtenstein can ensure effective prevention, detection, investigation, and prosecution of such activities.