DS Compliance

News & events

4th anti-money money laundering Directive voted...

The text has been voted by the European Parliament on 20 May 2015

Please find attached the 4th AML Directive that has been voted on 20 May 2015 by the European Parliament. Now, the Member States have two years to transpose the text in their national law. Deadline:...

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Tax transparency of the financial sector: here we are

The CSSF Circular 15/609 is the first step..

The trend since a few months and confirmed many times by the Luxembourg government comes into reality and explicitly by the clear position of our supervisory authority with the Circular 15/609, which...

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Banca Privada d'Andorra's case (BPA) highlights the limits of the due diligence on distributors and counterparties.

The Financial Crimes Enforcement Network (FinCen), in the United States, that is the equivalent of the Financial Intelligence Unit in Luxembourg, accuses BPA.

The Andorran bank, BPA, is accused by the FinCen of laundering money of organised crime and corruption.  Unless BPA has put in place AML/CTF internal procedures complying with FATF recommendations...

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