The Luxembourg financial regulator, the Commission de Surveillance de Secteur Financier or CSSF, has published guidance on anti-money laundering and combatting the financing of terrorism.
An online self-assessment questionnaire for investment funds, available on the CSSF website, is designed to help fight against money laundering and terrorist financing by gathering standardised key information on the risks investment professionals are exposed to.
Investment funds are particularly suitable for money laundering where a large sum of illicit money is already in the financial system, according to tech firm KYC360 which uses “smart technology” to combat financial crime.
The form must be completed when applying for a licence for specialised investment funds, European long-term investment funds and Ucits funds.
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