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New Tax Indicators Bring New Obligations: How to Stay Compliant
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As the Luxembourg tax landscape continues to evolve, businesses are facing new obligations to comply with Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) regulations. With the introduction of new tax indicators, companies must ensure they have the necessary processes in place to monitor and report these changes.
The Importance of Gap Analysis
A gap analysis can help identify areas where your organization may need to enhance its Data & Technology systems, People element, or Processes to be fully compliant with the new AML/CFT regulations. This comprehensive assessment will allow you to prioritize your needs and develop a remediation plan to address any gaps.
AML/CTF Compliance: A Shared Responsibility
The fight against money laundering and terrorism financing is a shared responsibility among three lines of defense:
- The management company
- Internal control bodies
- Supervisory authorities
Establishing an adequate reporting line and oversight function is crucial for effective risk management and compliance.
Expert Solutions to Support Your AML/CTF Compliance
To help you navigate these complex regulations, our team of experts offers a range of solutions:
AML/CFT Governance Review
We will review your existing governance structure, roles, and responsibilities to ensure adequate tasks and reporting lines.
Design or Review of Risk Appetite Framework
Our experts can help you update your risk appetite framework annually, identifying AML risk exposure, quantifying risk limits, and designing criteria for client onboarding and trigger reviews.
Support in AML/CTF Risk Management via PwC Risk Navigator Tool
Our digital tool simplifies the analysis of CSSF questionnaire data, allowing you to manage your AML/CFT risks more effectively.
Stay Ahead of Compliance Requirements
Don’t let changing regulations catch you off guard. Our expert solutions will help you stay ahead of compliance requirements and ensure your organization remains vigilant in the fight against money laundering and terrorism financing.
Contact Us Today
Contact us today to learn more about our comprehensive AML/CFT compliance services and how we can support your organization’s needs.