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Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) in Luxembourg

Financial Intelligence Unit (FIU)

The Financial Intelligence Unit (Cellule de Renseignement Financier or CRF) plays a crucial role in identifying and reporting suspicious transactions related to money laundering, predicate offenses, or terrorist financing. Here are some key points about the FIU:

  • Responsibilities: The CRF is responsible for identifying and reporting suspicious transactions.
  • Information exchange: The CRF can exchange information with foreign FIUs, but may refuse in exceptional circumstances or when exchanging with a third country.

Registers

Luxembourg has several registers available to professionals for Know Your Customer (KYC) activities. Here are the main ones:

  • Trade and Companies Register (RCS): This register contains information on companies, including corporate register extracts and articles of association.
  • Beneficial Owner Register (RBE): This register contains beneficial ownership information, including names, addresses, and personal identification numbers.
    • Required information from entities listed in the RCS Law:
      • Corporate register extracts
      • Articles of association or annual accounts
  • Register of Fiduciary Contracts and Trusts (RFT): This register contains information on fiducies and express trusts.

Information Required

Entities listed in the RCS Law must provide information to the RBE, including corporate register extracts and articles of association. Fiducies and express trusts must provide information to the RFT.

  • Beneficial ownership information: The RBE and RFT contain beneficial ownership information, which includes:
    • Names, first names, nationality(ies), date and place of birth
    • Country of residence, address, personal identification number
    • Nature and extent of interests held in the relevant legal entities

International Cooperation

National authorities can access information in the RBE and RFT. Supervisory authorities and self-regulatory organizations must cooperate with foreign counterparts and European Supervisory Authorities.

  • Interconnected registers: The RBE and RFT are interconnected via the European Central Platform, facilitating international cooperation and information exchange.