Luxembourg : Financial Sector Assessment Program: Technical Note-Anti-Money Laundering And Combatting The Financing of Terrorism

Author/Editor:

International Monetary Fund. Monetary and Capital Markets Department

Publication Date:

August 28, 2017

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This Technical Note discusses the findings and recommendations made in the 2017 Financial Sector Assessment Program (FSAP) Update for Luxembourg in the area of anti–money laundering and combating the financing of terrorism (AML/CFT). Since the last FSAP update, important steps have been taken to strengthen the AML/CFT regime. Luxembourg’s risk profile appears to be evolving as a result of the authorities’ push for increased tax transparency. Transparency of the beneficial ownership of legal persons has also improved. AML/CFT supervision has been strengthened in recent years, but challenges remain, including with respect to lawyers.

Series:

Country Report No. 17/255

Subject:

English

Publication Date:

August 28, 2017

ISBN/ISSN:

9781484316740/1934-7685

Stock No:

1LUXEA2017004

Format:

Paper

Pages:

26

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