In January 2001 the Professional Due Diligence in Financial Transactions Act (Gesetz über die beruflichen Sorgfaltspflichten bei Finanzgeschäften – “SPG”) and the Professional Due Diligence in Financial Transactions Ordinance (Verordnung über die beruflichen Sorgfaltspflichten bei Finanzgeschäften – “SPV”) came into force in the Principality of Liechtenstein. These were followed by several amendments.
Das Sorgfaltspflichtgesetz dient der Bekämpfung der Geldwäscherei und der organisierten Kriminalität.
Alle Finanzintermediäre - also insbesondere Treuhänder, Banken und Vermögensverwalter - sind bei Eingehung einer Geschäftsbeziehung unter anderem verpflichtet:
- to identify the contracting party,
- to ascertain the beneficial owners of the contributed assets,
- to draw up a profile of the business relationship, that is to say to clarify and document the economic background and origin of the assets as well as their intended purpose.
The financial intermediary must copy the identification document of the contracting party and of the beneficial owner (passport, ID card, driving licence), and must archive this separately and specifically together with the collected due diligence documentation.
Ongoing transactions during the further course of the business relationships must also be clarified and documented in detail.