The globalization of the world economy has led to a close linking of the financial markets and to liberalization of international financial flows. The far-reaching opportunities of new information technologies can, however, also be used for criminal purposes. As a globally oriented financial center, Liechtenstein has a vital interest in the worldwide enforcement of internationally recognized standards to prevent abuse of the financial markets. Liechtenstein foreign policy therefore pays great attention to the development and international enforcement of uniform rules to combat money laundering and the financing of terrorism. At the national level, numerous measures have been taken in recent years.
Combating money laundering
Liechtenstein is a State Party of the Convention of 8 November 1990 on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime  (Strasbourg Convention). As a member of the Council of Europe, Liechtenstein actively participates in the work of the Select Committee of Experts on the Evaluation of Anti-Money Laundering Measures (Moneyval ). Using the Financial Action Task Force on Money Laundering (FATF) as a model, this committee evaluates the implementation of the 40 FATF recommendations against money laundering and of the Strasbourg Convention in those member States of the Council of Europe that are not also members of FATF. Moneyval has already conducted two evaluations of the Liechtenstein measures against money laundering (1999 and 2002). A number of experts from Liechtenstein have also participated as evaluators in visits of Moneyval to other countries. In 2002, Liechtenstein also underwent an Offshore Financial Center Assessment by the International Monetary Fund (IMF). In their report  , the IMF experts attested the Liechtenstein defense measures against money laundering and financing of terrorism a “high level of compliance with international standards”, i.e., a high degree of implementation of the 40 FATF recommendations on combating money laundering as well as the 9 special recommendations of FATF on combating the financing of terrorism. In order to promote the worldwide implementation of these standards, Liechtenstein also supports the Global Programme against Money Laundering (GPML) of the United Nations with financial contributions. An important thrust of this program is technical support in establishing effective Financial Intelligence Units in less-developed financial centers. Specialists from Liechtenstein also contribute their expertise to this activity.
Combating the financing of terrorism
Liechtenstein is a State Party of all 12 relevant legal instruments of the United Nations on the suppression of terrorism. In order to implement the International Convention of 9 December 1999 for the Suppression of the Financing of Terrorism , a special legislative package was adopted, resulting in amendments to the Criminal Code, the Code of Criminal Procedure, and due diligence legislation. This legislative package also met Liechtenstein’s obligation to implement resolution 1373 (2001) of the UN Security Council. Liechtenstein submitted several reports (2001 (PDF, 225.86 KB)  , 2002 (PDF, 732.87 KB) , 2003 (PDF, 46.60 KB) ) to the committee of the Security Council responsible for monitoring implementation of the resolution by UN Member States, the Counter-Terrorism Committee (CTC), documenting the measures Liechtenstein has taken to combat the financing of terrorism. In addition, Liechtenstein has expressed its willingness to make financial expertise available to the CTC and to render technical support to other States in implementing counter-terrorism standards.
Further information
Liechtenstein's financial center at a glance (PDF, 426.64 KB)
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