Luxembourg’s Commission de Surveillance du Secteur Financier announced that its annual online money laundering and terrorist financing risk survey will be launched on Feb. 15, 2021.
The Council of Europe’s Group of State Against Corruption published the Fifth Evaluation Round Compliance Report on Luxembourg’s effort to combat corruption involving top executive functions and law enforcement agencies.
Prince Andrew allegedly brought clients to Luxembourg lender in exchange for kickbacks, Germany raided Wirecard in 2015 at U.S. behest, and more, in the weekly roundup.
STRs dropped significantly last year in Luxembourg, Belgium and the Netherlands after authorities began emphasizing quality over quantity of reporting and eliminated certain numerical thresholds for filing.
Luxembourg’s Commission de Surveillance du Secteur Financier issued a €150,000 penalty against the Luxembourg-based financial firm for failing to address anti-money laundering and counterterrorist financing deficiencies related to internal governance and risk management.