financial action task force

The upcoming external audit of Luxembourg’s anti money-laundering (AML) stance is a major test for the country, its financial sector and the regulators. While the CSSF continues to maintain a low public profile, it has ramped up its work behind the scenes to respond to new demands by the Financial Action Task Force (FATF), an intergovernmental body set up to fight money laundering. The regulator is encouraging the industry to adopt best practices.