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LATEST: Luxembourg drops out of race to host AMLA; follows earlier decision of Netherlands to quit competition

LUXEMBOURG: The tiny EU country has dropped out of the race to host AMLA. Our file photo shows Luxembourg city from the Place de la Constitution , looking at Adolphe Bridge.

By AML Intelligence Correspondents LUXEMBOURG has dropped out of the competition to host Europe’s new AML Authority. The European Commission announced today that the Duchy had not submitted an application ahead of the deadline on Friday evening last. The surprise decision may have been influenced by the country’s lacklustre report card from FATF in September…

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