Financial Crime World

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Luxembourg’s Fight Against Money Laundering and Terrorist Financing: A Comprehensive Overview

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As part of its commitment to combating money laundering and terrorist financing, Luxembourg has put in place a robust regulatory framework. In this article, we will delve into the key bodies and authorities responsible for implementing these measures.

Key Bodies and Authorities

The Chambre des Notaires and Chambre des Huissiers de Justice

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Two self-regulatory bodies play a crucial role in supervising professionals who fall within their competence: the Chambre des Notaires (Chamber of Notaries) and the Chambre des Huissiers de Justice (Chamber of Court Bailiffs).

  • The Chambre des Notaires is responsible for implementing restrictive measures in financial matters and supervises notaries and other professionals falling within its competence. Contact them at +352 44 70 21 or info@notariat.lu.
  • Similarly, the Chambre des Huissiers de Justice plays a key role in implementing restrictive measures in financial matters and supervises court bailiffs. Reach out to them at +352 44 13 33 1 or conseil@huissier.lu.

The Financial Intelligence Unit (FIU)

The FIU is the national authority responsible for receiving and analyzing suspicious transaction reports and other information related to money laundering, associated predicate offenses, and terrorism financing. With its autonomous decision-making powers, the FIU can freely carry out its functions.

  • According to Article 5(1)(a) of the Law on the Fight Against Money Laundering and Terrorism Financing, professionals, their directors, and employees are obliged to report suspicious transactions without delay to the FIU.
  • Contact the Financial Intelligence Unit at +352 47 59 81 or crf@justice.etat.lu.

Obligation to Cooperate with Authorities

Natural and legal persons who must apply financial restrictive measures are also obliged to cooperate fully with Luxembourg authorities responsible for fighting money laundering and terrorist financing.

  • Professionals are required to inform the FIU promptly when they know, suspect, or have reasonable grounds to suspect that money laundering, an associated predicate offense, or terrorism financing is being committed or has been attempted.

Conclusion

Luxembourg’s commitment to combating money laundering and terrorist financing is unwavering. By understanding the roles of key bodies such as the Chambre des Notaires, Chambre des Huissiers de Justice, and Financial Intelligence Unit, professionals can play their part in ensuring the integrity of the financial system.

Contact Information

Note to the Editor

[21] See Article 5(1)(a) of the Law on the Fight Against Money Laundering and Terrorism Financing.