The financial center in Luxembourg is registering more and more strict controls of professionals. Elisa Da Silva, director of DS Compliance, shares her experience and advice on how to deal with it as calmly and professionally as possible. Financial sector professionals remain on the front line in the fight against money laundering and terrorist financing. They are in the crosshairs of their respective supervisors and pay a high price. For Elisa Da Silva, Managing Director of DS Compliance, the credibility of the Luxembourg market at international level is at stake.
“It should be borne in mind that the FATF will come to visit Luxembourg in October 2021, not so much for its tourist attractions, but above all as part of its Luxembourg assessment mission. And this time, we go up a gear. FATF experts will come to check both the regulatory framework and the effectiveness of the measures put in place. And each professional has their role to play,” she explains.
According to him, professionals must have precise knowledge of their professional obligations in terms of the fight against money laundering and the financing of terrorism, put in place their risk analyzes and internal procedures in this area, and above all ensure that their effectiveness.