ABBL launches the interactive AML Handbook

ABBL Published 11.10.2019

Full house at the 2nd CSSF-ABBL Compliance Conference

The second edition of the joint CSSF and ABBL compliance conference, which took place on October 9 at the Luxembourg Chamber of Commerce premises, was fully booked, highlighting the very substantial interest of financial stakeholders in the latest trends and important updates delivered by the CSSF regarding the fight against money laundering and terror financing.

Not only did the financial supervisor present “key takeaways” for professionals, stemming notably from its on-site inspections and off-site supervision teams for banks and investment firms, the CSSF also delivered specific core recommendations on how to best tackle ML/TF challenges.

 

Launch of the ABBL Handbook on AML & CFT

This conference was the perfect setting for ABBL to release its brand new, interactive Vade-Mecum of the professional obligations relating to ML and TF (“AML/CFT Handbook”). Representing the equivalent of a 200-page .pdf file, the AML/CFT Handbook is a powerful online tool providing easy access to its contents from any electronic device (tablets/smartphones/computers) and featuring interactive guidance based on countless national and international references, as well as practical ABBL recommendations reflecting market standards. As a living document, it is meant to be updated frequently, covering all of the professional obligations financial entities have to abide by in accordance with to the entire Luxembourg AML/CFT legal and regulatory framework.

The Handbook is a concrete tool set up by compliance experts for compliance experts, delivering a practical guide to the fulfilment of AML/CFT obligations, covering notably:

  • The risk-based approach and mitigating factors which could be applied according to the financial activity undertaken,
  • The procedures to identify clients and beneficial owners, as well as
  • Considerations pertaining to funds’ transfers and data protection issues among others.

The ABBL AML/CFT Handbook and its accompanying User Guide are available exclusively to members of the ABBL through the Library / Online resources section of the ABBL MemberNet. Any interested financial professional wishing to consult the AML/CFT handbook may consider joining the ABBL by directly contacting our Business Development team.

 

Contact

Association des Banques et Banquiers, Luxembourg

Address

12, Rue Erasme L-1468 Luxembourg

Phone Fax
Opening hours

Monday to Friday from 8:00 to 17:30.