14 September 2020
Communiqué

Publication of Circular CSSF 17/650 concerning the predicate tax offence coordinated following the publication of Circular CSSF 20/744 providing new indicators to be taken into account in the context of collective investment activities

We inform you of the publication of Circular CSSF 17/650 coordinated with Circular CSSF 20/744 relative to the application of the Law of 12 November 2004 on the fight against money laundering and terrorist financing, as amended (hereinafter “AML/CFT Law”) and Grand-ducal Regulation of 1 February 2010 providing details on certain provisions of the AML/CFT Law to predicate tax offences.

Circular CSSF 20/744 brings amendments concerning only the Annex 1 of Circular CSSF 17/650 which provides new indicators to be taken into account in the context of collective investment activities.

Circular CSSF 20/744 has reminded the professionals under its AML/CFT supervision its expectation to take these new indicators, where relevant, into account in their risk assessment and when designing risk mitigation measures proportionate to their risk exposure within the specific context of collective investment activities.