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ARTICLE · 03 MARCH 2017

Luxembourg CSSF Circular 17/650 - Primary Tax Offences

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On 17 February 2017, Luxembourg's financial regulator (Commission de Surveillance du Secteur Financier – CSSF) issued a circular drawn up with the Financial Intelligence Unit in order to provide.

LuxembourgFinance and Banking
Delphine Tempé
Delphine Tempé
Carine Lecoq
Carine Lecoq
Eduard Koster
Eduard Koster
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On 17 February 2017, Luxembourg's financial regulator (Commission de Surveillance du Secteur Financier – CSSF) issued a circular drawn up with the Financial Intelligence Unit in order to provide:

  • Practical details regarding the dispositions relating to primary tax offences and
  • A list of indicators that might give rise to a professional obligation to report suspected money laundering.

Following the recent introduction of aggravated tax fraud and tax swindling into the list of primary money laundering offenses into the Luxembourg criminal code, the CSSF has highlighted professional obligations regarding customer due diligence, internal organization and cooperation with the authorities.

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