Despite progress, Luxembourg still faces significant challenges in fighting international corruption, according to the Organisation for Economic Co-operation and Development (OECD).
In its fourth report on Luxembourg released last week, the OECD commends certain advancements made over the past 13 years, including the enactment of laws protecting whistleblowers and improved collaboration with other nations.
However, the OECD underscores the need for Luxembourg to demonstrate genuine political resolve in addressing underlying structural issues. Criticisms include the sluggish implementation of measures against transnational corruption and a lack of substantial investigations resulting in prosecutions concerning cases involving foreign officials.
The OECD further expresses concern over the relatively lenient fines levied against individuals in companies, deeming them insufficient deterrents given the gravity of the offences.
The OECD experts recommend several steps for Luxembourg to bolster its anti-corruption framework, including reinforcing the capabilities of the Financial Intelligence Unit (CRF) and providing additional training to tax administration officials to heighten awareness and vigilance.
