Luxembourg newsflash — ALFI releases its new AML practices and recommendations - .PDF file.
The Association of the Luxembourg Fund Industry (ALFI) has released new anti-money laundering (AML) practices and recommendations aimed at reducing the risk of money laundering and terrorist financing in the Luxembourg fund industry.
The document has been drafted in association with ABBL, ALCO and ALRiM and provides guidance for the customer due diligence (CDD) measures to be applied to investors and intermediaries in foreign jurisdictions, in alignment with international standards, including the FATF recommendations the European Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering practices and terrorist financing…
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