Artificial Intelligence (AI) has caused revolutionary changes in the rapidly evolving fields of technology and finance. It brings unprecedented opportunities for innovation and efficiency, but it also introduces new challenges, especially when it comes to financial security. Anti-Money Laundering (AML) is one critical area where the combination of AI …
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 …
Luxembourg’s leading position in the fund industry worldwide demands that the country also be a reference in fund governance. The more oversight is robust and investors are protected, the more its influence in the industry will grow. Governance is more important than ever because the pace of change seen in …
“You get to a point where it gets very complex, where you have money laundering activities, drug related activities, and terrorist support activities converging at certain points and becoming one.” Sibel Edmonds In our previous article The Intensifying Fight Against Money Laundering and Terrorist Financing (Part 1), we deep dived …
“The only way to stop the flow of this dirty money is to get tough on the bankers who help mask and transfer it around the world. Banks themselves don’t launder money, after all: people do.” Robert Mazur, former federal agent who worked as an undercover money launderer In recent …
Let’s talk about money laundering, baby. We bet that got your attention. But being connected to money laundering in any way is not the kind of attention that individuals, businesses and— arguably more importantly — financial centres like Luxembourg want. At all. There was a funny post on social media …
Can you imagine what would be like to have wholesale insurance using blockchain? We take a look at those unique features of blockchain that are likely to create new organisational and operational opportunities for the insurance sector. Here are the three main areas where blockchain could be a game-changer:
Cyber crimes, money laundering, robbery, selling of controlled substances, and abuses of economic aid are all examples of economic crimes. New criminal trends have recently emerged in different business sectors and industries. We interviewed Robert Mazur, the former US federal agent who went undercover deep into Pablo Escobar’s Medellín Cartel and …
Economic crime continues to be a dominant item on the business agenda and no industry sector, region or size of business is immune. Instances of economic crimes continue to increase in frequency around the world and are a key concern for Luxembourg companies, which are particularly exposed. Here are three facts that …
