AML in Luxembourg: Progress, challenges, and the path forward 

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 …

Is it time for (re)insurers to crack the code on AML/CFT with artificial intelligence? 

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 …

Anti-Money Laundering Digitalisation or how to save time, costs and stay compliant

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, …

AML in Luxembourg, where does the country stand?

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 …

The Intensifying Fight Against Money Laundering & Terrorist Financing (Part 2)

“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 Intensifying Fight Against Money Laundering and Terrorist Financing (Part 1)

“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 …

When the Financial Action Task Force (FATF) comes to town

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 …

Financial crime: lessons learnt and new trends

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 …

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