Sandrine Periot

Sandrine Periot


Grand-Ducal Regulation of 14 August 2020: key changes and clarifications

On 14 August 2020, the CSSF amended the Grand Ducal Regulation (GDR) of 1 February 2010. This amended GDR updates and provides clarifications on certain provisions of the Law of 12 November 2004 on the fight against money laundering and terrorist financing, notably regarding the amendments from the transposition of the fourth and fifth anti-money laundering (AML […]

CSSF Regulation 20-05: changes and clarifications

On 14 August 2020, Luxembourg’s financial regulator CSSF published Regulation 20-05 (“the Regulation”), amending CSSF Regulation 12-02 of 14 December 2012 regarding the fight against money laundering (ML) and terrorist financing (TF). The Regulation, which entered into force on 24 August 2020, aims to provide further clarifications to professionals regardi […]
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Will the Financial Action Task Force (FATF) visit really be postponed until October 2021?

On April 14th, the Ministry of Justice announced that the plenary discussion of the FATF report assessing Luxembourg's performance on combating money laundering has been postponed until October 2021. The initial plan saw a plenary discussion scheduled for June 2021, following an onsite visit from experts in October 2020. In the current context of the Covid […]
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Actions to take regarding Circular 18/9: insurers, take note

Luxembourg has recently completed its 2018 national risk assessment, which covers data from 2016–2017. This mandatory exercise was performed in preparation for the Financial Action Task Force (FATF) visit taking place in autumn 2020. The results from the assessment help clarify the money laundering and terrorist financing (ML/TF) risks the country faces, makin […]
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Let’s remove all paperwork from onboarding

For decades, onboarding processes have remained the same. Manually done and prone to errors, this crucial step in a customer’s journey is often a frustrating one—but onboarding is essential in anti-money laundering and know-your-client regulations, as well as in the Foreign Account Tax Compliance Act. Onboarding seems, at its root, a simple task: gather t […]
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