Luxembourg's CFR reports €610 million blocked in 2023

The CRF is responsible for receiving and analysing reports of suspicious transactions that may involve money laundering, related offences, or terrorism financing.

The €610 million figure represents a threefold increase from the previous year. This surge is attributed to two cases involving exceptionally large sums, although the CRF has not disclosed the specific cases. The report indicates that the largest amounts were blocked in connection with international corruption.

In its report, the CRF emphasised, "Crime does not pay." It acknowledged that combating money laundering and terrorism financing is becoming increasingly complex, particularly due to the intricate nature of the suspicious activity reports received from businesses and financial professionals. "The information we receive can be compared to jigsaw puzzles," the CRF noted. Despite these challenges, the CRF remains bolstered by the recent addition of highly specialised financial analysts.