Introduction to Liechtenstein Compliance Law

A practical handbook for persons subject to due diligence obligations under the SPG

A practical guide to implementing Liechtenstein's compliance and due diligence framework with a focus on the SPG, SPV, and fintech and crypto-asset service providers – concise, clear, and application-oriented.

The publication Introduction to Liechtenstein Compliance Law by Josef Bergt and Nicolas Graber (published in 2025 by Schulthess Juristische Medien AG, Zurich/Geneva; ISBN 978-3-7255-9797-0) offers a practice-oriented introduction to Liechtenstein’s compliance regime for combating money laundering (AML) and the financing of terrorism (CFT).

In his introductory foreword, Prof. (FH) Mag. Otto Lucius emphasizes that due diligence and compliance obligations exist across a wide range of professions—but that they are particularly dense and significant in the financial sector, especially in light of the growing threats posed by money laundering, terrorist financing, and emerging risk phenomena such as crypto-asset-based financial flows and NFTs. Otto Lucius highlights the urgency of a functioning, risk-based compliance system, supported by empirical data. He recognizes this work as a practical and systematically structured guide that offers not only Liechtenstein-specific insight but also knowledge that is transferable to broader European regulatory developments.

This handbook provides both a practical and systematic approach to Liechtenstein’s due diligence law. At its core are the statutory compliance requirements arising from the Due Diligence Act (SPG) and the Due Diligence Ordinance (SPV) and their day-to-day application by financial intermediaries, legal professionals, and other obliged entities. The authors examine the legal foundations in depth and provide actionable guidance for implementing due diligence obligations in client onboarding, transaction monitoring, and the reporting of suspicious activity. The book also addresses current developments, especially the integration of digital business models and blockchain-based services into the regulatory framework. It serves as an ideal resource for training purposes, as a reference work, and for preparing for audits or examinations.

The book is specifically designed for financial intermediaries, attorneys, compliance officers, trustees, auditors, and other professional advisors who, in practice, must comply with the legal obligations under the SPG.

Key Features

• Clearly and accessibly explains the foundational principles of Liechtenstein’s due diligence law under the SPG and SPV, in the context of international compliance standards (especially FATF and the EU AMLDs);
• Offers concrete operational guidance for identifying and addressing high-risk clients and transactions;
• Supports the implementation of an effective risk-based approach to meeting KYC, documentation, monitoring, and reporting obligations;
• Addresses the role of compliance management in modern organizations and discusses potential sanctions for non-compliance;
• Takes into account specific considerations relating to the application of due diligence law to crypto-asset service providers and blockchain-based platforms.

The authors—recognized experts at the intersection of financial market supervision, criminal law, and fintech regulation—combine doctrinal legal analysis with practical recommendations for day-to-day implementation. As such, the book serves both as a foundational guide for practice and as a compact reference tool for legal education and internal professional training.

Further information available here: Link to publisher’s page

Target Audience:
Banks, trustees, attorneys, asset managers, blockchain service providers, audit firms, regulators, compliance officers, AML officers, students, and other interested parties

Keywords:
Due Diligence Act, SPG, Anti-Money Laundering, Counter-Terrorist Financing, Compliance, AML, KYC, High-Risk Clients, FATF, Risk-Based Approach, Suspicious Activity Reporting, Beneficial Ownership, Documentation Obligations, SPV, Crypto-Asset Service Provider, Blockchain, Fintech, Tokenization, Digital Assets, Supervisory Law, Financial Intermediaries, Criminal Law, Economic Criminal Law, Liechtenstein