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  • 10-05-2017

Bill 7128 (the "Bill") implementing some of the provisions of Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (the "4th AML Directive") has been brought before the Luxembourg Parliament. The Bill will amend a number of Acts, in particular the AML Act of 12 November 2004, as amended (the "AML Act"). The Bill is mainly intended to implement the provisions of the 4th AML Directive with regard to the application of "a holistic, risk-based approach" by all professionals subject to the AML legislation.

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The article was also published in the Legimag - June 2017

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