1. FATF Mutual Evaluation Report – AML/CFT
measures in Luxembourg
On 27 September 2023, the Financial Action Task Force
("FATF") released its Mutual Evaluation
Report on Luxembourg ("Report"), following its
AML/CFT on-site visit in Luxembourg from 2 to 18 November 2022.
The Report gives Luxembourg a good overall result regarding its
AML/CFT framework, placing it among the best-rated FATF member
countries.
The Report identified some areas for improvement, in particular
with regard to the awareness of terrorist and proliferation
financing in non-financial businesses and professions.
Nevertheless, according to the Report, Luxembourg has developed
consistent efforts to improve its AML/CFT regime following the
previous FATF report. In this respect, the Report concedes that
some improvements to the Luxembourg AML/CFT legal framework have
been initiated only recently (three to five years before the 2023
on-site visit), which explains why they are not yet
