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The new Bill on the fight against money laundering and terrorist financing has been passed by the Luxembourg Parliament. Luxembourg has followed recommendations by the Financial Action Task Force (FATF), an OECD body whose purpose is the development and promotion of policies to combat money laundering and terrorist financing. The aim of the legislation is to strike a balance between the respect of privacy and Luxembourg’s international obligations. The text was presented by Jean-Louis Schiltz and Gilles Roth from the Christian Social People’s Party (CSV). LFF spoke to Gilles Roth.
Last February, the FATF (The Financial Action Task Force[1]) report asked Luxembourg to amend its law in order to implement recommendations that facilitate the cooperation of judiciary authorities...
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