Regulatory Alerts2024-09-05
Circular CSSF 24/861 amending Circular CSSF 19/732 on Prevention of Money Laundering and Terrorist Financing
The CSSF issued Circular 24/861 to amend Circular 19/732 regarding the prevention of money laundering and terrorist financing. This update provides specific clarifications on the procedures for identifying and verifying the identity of ultimate beneficial owners. The revised framework ensures that regulated entities apply consistent standards when conducting due diligence on beneficial ownership structures.
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