With its very first vertical analysis of the risks associated with the different types of legal persons and legal structures, the Luxembourg government completes its list of tools in the fight against money laundering. A tool that should help local financial services professionals to refine their anti-money laundering risk matrices, if this has not already been done.

Luxembourg has finalized its very first vertical assessment of the risks of money laundering and terrorist financing in relation to legal persons and legal arrangements. The Luxembourg government thus seeks to ensure that all of the players in charge of applying money laundering prevention measures and those in charge of controlling them have full knowledge of the risks associated with certain types of specific entities. Echoing the words of the Financial Action Task Force (FATF), the report notes that corporate structures, whatever their economic and social roles, are sometimes misused for illicit purposes, helping criminals circumvent anti-corruption measures. against money laundering and terrorist financing. Certain complex structures can also allow them to disguise and then convert the proceeds of crime before reinjecting them into the financial system.