Luxembourg’s financial regulator, Commission de Surveillance du Secteur Financier, announced the results of a thematic review conducted in 2020 examining the anti-money laundering and counterterrorist financing controls applied to unregulated alternative investment funds.
Luxembourg’s Commission de Surveillance du Secteur Financier published a series of 13 frequently asked questions concerning the completion and submission of the anti-money laundering and counterterrorist financing Market Entry Form using the eDesk system.
Malta ran AML advertising campaign, Moneyval criticized Vatican, and more, in the weekly roundup.
Anti-money laundering enforcement in Europe trended downward in 2020 but remained high overall, according to data compiled by ACAMS moneylaundering.com, and a previously dormant, seemingly lenient Nordic regulator led the pack.
The Commission de Surveillance du Secteur Financier imposed an administrative fine of €67,600 against the Mendrisio, Switzerland-based investment fund manager for its failure to comply with the money laundering and terrorist financing requirements.
The Commission de Surveillance du Secteur Financier ordered the investment fund manager based in Strassen, Luxembourg, to pay €5,000 for failing to comply with an anti-money laundering and counterterrorist reporting obligation.