CSSF to survey money laundering risks
Luxembourg’s financial supervisor CSSF on Wednesday said its annual online survey relating to the fight against money laundering and terrorism financing will start on 15 February next year.
The survey aims to collect standardised key information concerning money laundering and terrorism financing - “ML/TF” - risks to which firms under CSSF supervision are exposed and about the implementation of measures to mitigate these risks.
After CSSF scolding, Sarasin says ‘no actual’ laundering
Swiss private bank Banque j. Safra Sarasin, reprimanded by Luxembourg financial regulator CSSF in a public statement last Friday, has stated that the regulator had alleged no “actual money laundering activities”.
ING braces for Luxembourg AML indictment
Dutch financial group ING is bracing for a criminal indictment in Luxembourg over its failure to properly manage anti-money laundering (AML) processes at its unit in the Grand Duchy.
The bank said it was informed in January by a Luxembourg investigating judge that he intends to instruct the relevant prosecutor to prepare a criminal indictment regarding shortcomings in the anti-money laundering at ING Luxembourg.