The FATF sets behavioural standards in the areas of money laundering and terrorist financing, regularly checking whether the 40 member states adhere to them. In the last evaluation in 2010, Luxembourg was rated rather negatively because the country had actually only fulfilled one of the more than 40 criteria.
This time, however, things look quite different. Luxembourg seemingly understood the regional and international dangers posed to the country by money laundering and terrorist, believes the FATF. Instead, the Grand Duchy now seems to focus more on international cooperation to fight the phenomenon.
Nonetheless, the FATF believes that Luxembourg needs to put in more effort to identify and prosecute complex money laundering schemes.
Link: D’Schreiwes vun de Justiz- a Finanzministèren iwwert de Rapport vum GAFI.
