FATF highlighted that Luxembourg had achieved strong national and international coordination and cooperation both at a policy and operational level, in particular relating to access to beneficial owner information and the use of financial intelligence.
While the organisation noted there were still areas where Luxembourg could strengthen its measures, these are aligned with continued efforts within the Grand Duchy.
Nicolas Mackel, CEO of Luxembourg for Finance, commented that “this robust bill of health is evidence of the importance that Luxembourg and the financial services sector in the country place on fight against money laundering and the financing of terrorism. The work does not stop here, and Luxembourg’s financial sector will continue to ensure that measures in the country remain aligned with the latest international recommendations and standards.”