Anti-Money Laundering and Counter Terrorist Financing

Anti-money laundering and terrorist financing

The Directorate for Combating Money Laundering and the Financing of Terrorism (AML/CFT Directorate ) is a department of the Ministry of Justice. 

It represents Luxembourg during meetings of the Financial Action Task Force (FATF) and participates in the FATF's work to develop international standards on combating money laundering and the financing of terrorism and proliferation. It leads and coordinates the preparatory work for the mutual evaluation of Luxembourg in the framework of the 4^th round of FATF mutual evaluations.

At the European Union level, it participates in various working groups.

At the national level, it ensures the national coordination of the fight against money laundering and terrorist financing. It acts as the Executive Secretariat of the Committee for the prevention of money laundering and terrorist financing and of the Inter-ministerial Steering Committee for the fight against money laundering and terrorist financing. It leads and coordinates the work of updating the national AML/CFT risk assessment and conducts so-called "vertical" risk assessments on specific topics.

It should be noted that the fight against money laundering and terrorist financing is a cross-cutting issue, which also involves other ministries, supervisors, the financial intelligence unit and law enforcement authorities, as well as certain professional organisations and associations.

Legislation

The AML/CFT Directorate contributes to the legislative texts concerning the fight against money laundering and terrorist financing and to the transposition of the relevant directives. In particular, it participates in the negotiation of regulations and directives forming the "anti-money laundering and anti-terrorist financing package" proposed by the Commission.

Publications

Risk assessments

• MinJus_ National risk assessment of money laundering and terrorist financing 2020 (NRA 2020)

• MinJus_Vertical risk assessment on terrorist financing 2022 (VRA TF 2022)
• MinJus_ ML/TF vertical risk assessment on legal persons and legal arrangements 2022 (VRA LP LA)
• MinJus_ML/TF vertical risk assessment on virtual asset service providers 2020 (VRA VASP)

• CSSF_ML/TF sub-sector Risk Assessment – Collective investments 2022 (EN version)
• CSSF_ML/TF sub-sector risk assessment - Trust and company services provider activities 2020 (EN version)
• CSSF_ML/TF risk analysis – private banking 2019 (EN version)

Guidelines and best practices

• MinJus_non financial sector TCSP guidelines 2022 (EN version)
• MinJus_non financial sector TCSP guidelines 2022 (FR version)
• MinJus_Sensibilisation ASBL et fondations aux risques de FT (FR version)
• MinJus_Bonnes pratiques des ASBL et fondations – transparence et conformité (FR version)