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By Nicolas MARINIER, Marie-Astrid DUPUY, Andreas SCHMITT Jeanne BARREAU, Deloitte Luxembourg
The sheer volume and dynamism of professionals’ reporting obligations can be confounding. When authorities’ main focus is international financial sanctions, it is essential to understand the when, how and to whom of reporting.
According to the Financial Intelligence Unit’s (FIU) most recent statistics,(1) professionals generated 44,519 suspicious activity/ transaction reports (SAR/STR) in 2023. Despite this significant figure, the Commission de Surveillance du Secteur Financier’s (CSSF) on-site inspections continue to uncover failed or delayed reporting cases, repre- senting a large share of the administrative sanctions related to anti-money...
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