The Grand Ducal police confirmed a number of checks had taken place over the last fortnight, to ensure compliance with the Register of Beneficial Owners (RBE) rules.

The checks, which deployed between 160 and 200 police officers, yielded more than 100 verbal warnings for infractions. The checks will continue through the summer.

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The Register of Beneficial Owners was launched three years ago. Each entity registered with the RBE must provide information as required by the law, which also applies to non-profit organisations.

Violations of RBE law can be punishable by fines ranging from €1,250 to €1,250,000. Businesses which are not located at the registered offices or addresses can even be subject to liquidation.