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Luxembourg’s first National Risk Assessment of money laundering and terrorist financing (NRA), published in December 2018, has concluded the Collective Investment Sector carried a high inherent money laundering and financing of terrorism (ML/FT) risk.
This finding is not unusual as it reflects similar conclusions of the Financial Action Task Force (FATF) and the European Commission in its own Supranational Risk Assessment.
In order to link the NRA to the entity-level ML/FT risk assessments that the CSSF performs annually of Investment Fund Managers operating in Luxembourg, and to develop a more granular and systematic perspective on the risks faced by the Collective Investment Sector, the CSSF began in 2019 an analysis of ML/FT risks affecting the...
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