Luxembourg tax authority to get special AML unit
Luxembourg has decided to establish a special anti-money laundering (AML) unit within its tax administration following parliamentary approval. The head of financial supervisor CSSF, meanwhile, expressed his concern over the use of ‘outdated systems’ at the AML teams of asset and wealth management firms.
Luxembourg to discuss expert groups on Ukraine recovery
As an international financial hub, Luxembourg is seen as well positioned to play a key role in talks about strengthening and financing the recovery of Ukraine’s economy once the war is over. A Luxembourg roundtable, scheduled for 22 February, will discuss Luxembourg’s potential role and seeks to create a number of expert-based working groups. (Free to read)