Luxembourg: Report on the Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2004/399, IMF Staff Country Reports from International Monetary Fund

Abstract: This report on the Observance of Standards and Codes reviews Luxembourg’s observance of the Financial Action Task Force (FATF) 40 Recommendations for Anti-Money Laundering and eight Special Recommendations on Combating the Financing of Terrorism. The assessment reveals that Luxembourg has in place a solid criminal legal framework and supervisory system to address the significant challenge of money laundering. Luxembourg is broadly compliant with almost all of the FATF Recommendations. The main areas requiring further attention relate to the limited scope of predicate offences and the reporting of suspicions of financing of terrorism.

Keywords: ISCR; CR; Luxemburg; UN resolution; AML; customer; financial intelligence unit; customer due diligence issue; customer identification requirement; customer identification procedure; preventive measure; geographical location; predicate offence; Anti-money laundering and combating the financing of terrorism (AML/CFT); Money laundering; Terrorism financing; Legal support in revenue administration (search for similar items in EconPapers)
Pages: 16
Date: 2004-12-08
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=17902 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2004/399

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().