Luxembourg: Report on the Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
December 8, 2004
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This report on the Observance of Standards and Codes reviews Luxembourg’s observance of the Financial Action Task Force (FATF) 40 Recommendations for Anti-Money Laundering and eight Special Recommendations on Combating the Financing of Terrorism. The assessment reveals that Luxembourg has in place a solid criminal legal framework and supervisory system to address the significant challenge of money laundering. Luxembourg is broadly compliant with almost all of the FATF Recommendations. The main areas requiring further attention relate to the limited scope of predicate offences and the reporting of suspicions of financing of terrorism.
Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing
Keywords: AML, Anti-money laundering and combating the financing of terrorism (AML/CFT), CR, customer, customer due diligence issue, customer identification procedure, customer identification requirement, financial intelligence unit, geographical location, ISCR, Legal support in revenue administration, Luxemburg, Money laundering, predicate offence, preventive measure, Terrorism financing, UN resolution
Pages:
16
Volume:
2004
DOI:
Issue:
399
Series:
Country Report No. 2004/399
Stock No:
1LUXEA0032004
ISBN:
9781451824346
ISSN:
1934-7685
