Foreign Ministers Andrea Willi last week announced that Liechtenstein will speed up the implementation of stricter new anti-money laundering laws. "The government is determined to be at the top in terms of fighting money laundering. We don't want that kind of money here and we will now do everything to ensure that we make it to that top position," Ms Willi said.
Ms Willi described Liechtenstein's current banking laws as 'cumbersome' and noted that they often hinder rather than help Liechtenstein's involvement in money-laundering investigations, a fact that even Liechtenstein's secretive neighbour Switzerland has observed in recent times.
The Liechtenstein government has been working on new anti-money laundering legislation since September last year. But the recent implication of Liechtenstein in the channelling of illicit French donations to Germany's CDU Party under former Chancellor Helmut Kohl, together with the belated release last week of an anonymous report to the German Intelligence agency linking Liechtenstein's finance sector with organised crime, has prompted the Liechtenstein Government to speed up the implementation of the new laws.
The new laws are now expected to be considered by the Liechtenstein parliament by April, and should be in place by June this year.
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