Press release regarding BGL BNP Paribas

Following the revelation of the fraud perpetrated against a charitable foundation in Luxembourg (the “Foundation”), the CSSF carried out, in accordance with its specific legal competences, on-site and off-site investigations at BGL BNP Paribas (the “Credit Institution”) covering certain aspects of the anti-money laundering and combatting the financing of terrorism (“AML/CFT”) professional obligations of the Credit Institution, and more precisely, the obligation to adopt a risk-based approach and to apply, in the context of AML/CFT, due diligence measures adapted to its customers, in accordance with the level of risk of money laundering and terrorist financing, including the monitoring of transactions, with an emphasis on the accounts of the Foundation.

The CSSF’s on-site and off-site investigations were carried out between September 2024 and January 2025. The results were communicated to the Credit Institution and the CSSF considers its intervention as being closed.