Regulatory Alerts2023-10-16
Added · Updated
CSSF Circular 23/843: Adoption of EBA Guidelines on Money Laundering and Terrorist Financing Risk Factors
The CSSF integrates the EBA Guidelines on policies and controls for managing money laundering and terrorist financing risks when providing access to financial services into its administrative practice and regulatory approach. This circular applies to credit and financial institutions as defined in the Law of 12 November 2004 on the fight against money laundering and terrorist financing. The guidelines require institutions to document decisions to refuse or terminate business relationships and establish complaint mechanisms, with applicability starting on 3 November 2023.
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