Liechtenstein

New Documents

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

The European Union and the Principality of Liechtenstein signed an agreement regarding increased cross-border cooperation, particularly in combating terrorism and international crime.

July 10, 2019

Liechtenstein FMA Highlights AML Focus of Supervision in Annual Report

The Financial Market Authority of Liechtenstein announced that anti-money laundering concerns are the primary focus of supervision for the regulator and that it has reviewed and reorganized its money laundering supervision mechanisms effective April 1, 2019.

April 18, 2019

EU Council Highlights Tax Commitments of Liechtenstein, Peru

October 2, 2018

Basel Releases ICC Report on Challenges of Financial Investigations

June 10, 2016

GRECO Publishes Third Evaluation Report on Liechtenstein Regarding Incriminations

March 18, 2016

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