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Liechtenstein freezes terror-link bank accounts

Barbara Buchanan, Accountancy Age 31 Mar 2008

Liechtenstein authorities freeze bank accounts and companies linked to ETA following a request from the Spanish judiciary

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Bank accounts and offshore companies belonging to suspected ETA terrorists have been blocked following a request by Spanish investigative judge Baltasar Garzon.

Liechtenstein authorities have co-operated with his request for information about the opening of accounts, their transactions, and amounts transferred from Spain and France, according to Spain's El Pais newspaper.

A bank in Vaduz that received the suspected ETA funds apparently tipped off the Spanish authorities.

Liechtenstein generally ignores requests to investigate tax evasion, and is on an OECD blacklist for its opaque practices and uncooperative attitude but it will help countries tracking down money linked to terrorism.

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