Liechtenstein Playing An Active Role In The Fight Against Terrorism

by Ulrika Lomas, Tax-News.com, Brussels

15 November 2001

The alpine principality of Liechtenstein has been playing an active part in the international fight against terrorist finance and money laundering of late, with the Finance Minister Otmar Hasler representing the country at the annual meeting of Finance Ministers of the EFTA and European Union here in Brussels recently.

The Minister used the opportunity to outline measures currently enforced in Liechtenstein, and discussed future plans for the prevention of money laundering and tax evasion.

Liechtenstein has been in the news recently in connection with ongoing international investigations into the Al Taqwa organisation, which is suspected of having links with Osama bin Laden. According to reports in the Liechtensteiner Vaterland, a house search at the 'Al Taqwa Trade, Property and Industry Co. Ltd' which is represented by a Liechtenstein trustee, was conducted at the request of the Swiss Federal Prosecutors Department. Five company accounts held by Al Taqwa in the country were also frozen.

The paper reported that the trustee seemed 'completely surprised' by the action, and stated that the only purpose of the Vaduz based company was to manage two properties in Lugano.

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