Written in collaboration with Carla Santos, a member of The Blog team. In 2022, Luxembourg’s foreign direct investment stock accounted for 1,400% of its Gross Domestic Product (GDP), far exceeding the EU average of 62%. Moreover, the country’s financial and insurance sectors contributed about 23% to the national GDP, underscoring …
In April 2024, PwC published its first-ever survey on anti-money laundering (AML) in the Europe, Middle East, and Africa (EMEA) region, led by our anti-financial crime team. The ‘EMEA AML Survey 2024’ gathered responses from hundreds of financial institutions across 40 countries and provided an unprecedented look at how AML …
If you have been following the news, you are likely aware that Luxembourg’s neighbours—Belgium, France, Germany and the Netherlands—have been facing a number of terrorist attacks over the years. This and the current geopolitical situation call for an increased level of controls to counter terrorism financing. In this context, the …
“Impunity is over.” These were the words professed by the Ministry of Labour and the Inspectorate of Labour and Mines (ITM) that stuck in Myriam’s head after reading an article about the new bill against harassment at work from the Luxembourgish media RTL Today. It was early May 2023, in …
It’s a cold Friday morning and Robert is looking out the window, taking in the light streaming right through his office and trying to appreciate the snowy and peaceful landscape. Sadly, that’s a hard thing for him to do as the atmosphere outside doesn’t match how he feels. You see, …
Luxembourg is anti-money laundering (AML) and counter-terrorism financing (CTF) compliant. Both matters are, indeed, at the top of its agenda. This isn’t a recent commitment, rather, it dates back almost two decades. This article revisits the country’s developments on the matter. Unquestionably, the impact of money laundering (ML) and terrorist …
