Luxembourg Takes a Risk-Based Approach to Anti-Money Laundering
In an effort to strengthen measures against money laundering (AML) and terrorism financing, Luxembourg’s financial sector is adopting a risk-based approach. This move comes as part of a broader trend towards increased regulatory duties and sanctions for non-compliance.
The Need for AML Compliance
Financial institutions in Luxembourg are facing mounting pressure to stay ahead of the curve on AML regulations, with fines and penalties imposed by both supervisory authorities and courts. To combat this, PwC’s Academy is offering a comprehensive training program to help professionals develop their AML knowledge and skills.
The Training Program
The course, led by experts Cécile Moser and Michael Weis, will provide participants with a pragmatic approach to understanding AML regulations and internal control environments. The training will cover:
- Essential definitions related to AML
- Recent regulatory changes at the European and international levels
- Primary offenses related to AML
Participants will also gain practical insights into:
- Customer due diligence
- Transaction monitoring
- Cooperation with the Financial Intelligence Unit (FIU)
The course will also focus on adequate internal organization, controls, and record-keeping requirements.
Who Should Attend?
This training is designed for members of executive committees and boards of banks, professionals in the financial sector, insurance companies, management companies of Luxembourg UCIs, and other relevant stakeholders. By the end of the program, participants will be able to:
- Identify the impacts of new regulatory requirements on their organization
- Set up and apply a risk-based approach
- Explain relevant regulations to colleagues
Course Details
The training is available in English, French, and German, with two options for participation:
- Remote attendance: €410 (2 hours)
- Classroom participation: €615 (3 hours)
Each session has a maximum of 20 participants.
Register Now
Those interested in participating can register now or contact PwC’s Academy to be added to their show interest list.