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ARTICLE · 16 NOVEMBER 2022

Luxembourg AML Regulatory Updates

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With the entry into force of the law of 29 July 2022 (the "2022 Law") on the 12 August 2022, a series of new amendments were introduced to the Law of 13 November 2004 on the fight...

LuxembourgGovernment, Public Sector
Georgia Milne Aboitiz
Georgia Milne Aboitiz
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With the entry into force of the law of 29 July 2022 (the “2022 Law”) on the 12 August 2022, a series of new amendments were introduced to the Law of 13 November 2004 on the fight against money laundering and terrorist financing, as amended (the “AML Law”). Certain amendments have also been introduced in the Grand-ducal Regulation of 1 February 2010, providing details on certain provisions of the AML Law (the “AML GDR”) by Grand-ducal Regulation of 25 October 2022.

The 2022 Law imposes new requirements to professionals (within the meaning of article 2(4) of the AML Law). Professionals shall amend their policies and procedures, paying special close attention to their obligations with regards to customer due diligence.

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