Anti-Financial Crime & Financial Crime Compliance
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Compliance, Financial Crime

Luxembourg’s Ministry of Justice to put forward draft bill for sanctions linked to money laundering and tax evasion

By Elizabeth Hearst for AMLi

Luxembourg’s Ministry of Justice is expected to put forward a draft bill allowing authorities to sanction individuals who target the country’s financial system for money laundering and tax evasion.

Luxembourg’s financial system has been criticised as “opaque”, with the European Commission launching proceedings against the Grand Duchy in 2020 for its failure to transpose the EU’s 4th Money Laundering Directive by July 2018. 

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