ARTICLE · 23 SEPTEMBER 2024

FATF's Positive Assessment Of Luxembourg's AML/CFT Measures: Enduring Commitment Advised

Chevalier & Sciales

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The Grand Duchy of Luxembourg recently received a positive evaluation in the 4th mutual evaluation report conducted by the Financial Action Task Force (FATF) and published on September 27, 2023.

LuxembourgGovernment, Public Sector

Chevalier & Sciales

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The Grand Duchy of Luxembourg recently received a positive evaluation in the 4th mutual evaluation report conducted by the Financial Action Task Force (FATF) and published on September 27, 2023. The report acknowledges the quality of Luxembourg's framework for the fight against money laundering and the financing of terrorism (AML/CFT) while also providing recommendations for further improvements. As a result, Luxembourg will be under regular monitoring by the FATF, which is considered a good outcome. The report specifically praised Luxembourg's financial sector and its supervision by the CSSF, highlighting the effectiveness of AML/CFT supervision. The CSSF's supervisory approach was commended for being well-developed and risk-based.

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