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'No Banking Secrecy For Terrorists' Says Liechtenstein Foreign Minister

by Ulrika Lomas, Tax-News.com, Brussels

24 October 2001

The Liechtenstein Foreign Minister Ernst Walch met with Swiss Federal Councillor Joseph Deiss last week to discuss cooperation between the two offshore financial centres in the face of the international fight against terrorism.

Speaking after the meeting in Bern, Mr Walch stressed the determination of both countries to offer co-operation within the wider international community, but added that as the premier European locations for financial services providers, Liechtenstein and Switzerland themselves formed a community of interests which must be protected.

He praised the coordinated efforts of the Swiss and Liechtenstein police forces and the FBI, and drew attention to the swift and pro-active action taken by the country's anti-money laundering authorities following the September 11th terrorist attacks. However, no evidence has yet been found to suggest that terrorist assets were laundered through the Liechtenstein banking system.

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