Liechtenstein

New Documents

GRECO Publishes Second Compliance Report on Liechtenstein’s Incriminations, Party Funding Measures

The Council of Europe Group of States Against Corruption published a Second Compliance Report on the Third Round evaluation of Liechtenstein’s measures with respect to incriminations and transparency of party funding.

December 16, 2020

GRECO Publishes Fourth Round Evaluation on Liechtenstein’s Anti-Corruption Regime for Parliament, Legal Sector

The Council of Europe Group of States Against Corruption published its Fourth Round Evaluation report on Liechtenstein’s anti-corruption regime with respect to members of parliament, judges and prosecutors.

December 16, 2020

EU: Candidate Nations Implement Measures Related to Ukraine

November 23, 2020

EU, Liechtenstein Sign Agreement on Cross-Border Cooperation to Combat Terrorism

July 10, 2019

Liechtenstein FMA Highlights AML Focus of Supervision in Annual Report

April 18, 2019

News

Midweek Roundup: US Judge Dismisses Lawsuit Against Danske Bank, Belgium Investigates Credit Suisse, and More

Funds stolen from Russian bank terminated in Liechtenstein, Latvia issues AML guidance, and more, in the midweek roundup.

August 26, 2020

Weekly Roundup: Wirecard Files for Bankruptcy, Switzerland Investigates Banks’ Latin American Operations, and More

Hong Kong bans broker-dealer’s compliance executive, promoters of ‘AML’ cryptocurrency hit with federal charges, and more, in the weekly roundup.

June 26, 2020

Midweek Roundup: Commerzbank’s Compliance Woes Worsen, Citigroup Sees Billions in Ongoing AML Costs, and More

October 1, 2014

Weekly Roundup: Belgium Detains Head of UBS Division, Businesses Say Banks’ De-Risking Raises Costs of Trade Finance, and More

June 20, 2014

Midweek Roundup: U.S. Sands Case Spurs Casinos to Amend AML Programs, Egyptian Turmoil Stalls Asset Restitution, and More

September 4, 2013

Enforcement Actions

0 Items Found

Key Documents

Liechtenstein Issues 2008 Due Diligence Act

December 11, 2008

Liechtenstein Enacts Ordinance on Due Diligence Act

January 11, 2005

Liechtenstein Defines What Constitutes a Politically Exposed Person

February 17, 2009

Liechtenstein Enacts Amendment on Law of Professional Due Diligence When Accepting Assets

September 14, 2000

Important Facts

  • The U.S. Department of State classifies Liechtenstein as a jurisdiction of primary concern. It has a well-developed offshore financial services sector, relatively low tax rates, liberal incorporation and corporate governance rules and a tradition of bank secrecy. All of these conditions contribute significantly to the ability of financial intermediaries in Liechtenstein to attract funds from abroad.The three largest banks in Liechtenstein manage 85 percent of the country’s $125 billion in wealth. The business model of Liechtenstein’s financial sector focuses on private banking, wealth management and mostly nonresident business. It includes the provision of corporate structures such as foundations, companies, and trusts that are designed for wealth management, the structuring of assets, and asset protection. In recent years Liechtenstein banking secrecy has been softened to allow for greater cooperation with other countries to identify tax evasion. There are no reported abuses of non-profit organizations, alternative remittance systems, offshore sectors, free trade zones or bearer shares.
  • KYC covered entities:Banks; securities brokers; insurance companies and brokers; money exchangers or remitters; financial management firms, investment companies, and real estate companies; dealers in high-value goods; lawyers; casinos; the Liechtenstein Post Ltd.; and financial intermediaries
  • STR covered entities:Banks; securities brokers; insurance companies and brokers; money exchangers or remitters; financial management firms, investment companies, and real estate companies; dealers in high-value goods; lawyers; casinos; the Liechtenstein Post Ltd.; and financial intermediaries
  • Enhanced due diligence procedures for PEPs:Foreign:YesDomestic:Yes
  • Money laundering criminal prosecutions/Convictions: Prosecutions: 9 (2014); Convictions: 2 (2014)
-Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i

Technical Effectiveness
Compliant : 8 High :
Largely Compliant : 30 Substantial :
Partially Compliant : 11 Moderate :
Non-Compliant : 0 Low :

BASEL i

Rank : N/A
Score : N/A

TRANSPARENCY INTERNATIONAL i

Rank : N/A
Score : N/A

Tax Justice Network i

Rank : 52/133
Score : 75/100