On 17 February 2017, Luxembourg’s financial regulator (Commission de Surveillance du Secteur Financier – CSSF) issued a circular drawn up with the Financial Intelligence Unit in order to provide:

  • Practical details regarding the dispositions relating to primary tax offences and
  • A list of indicators that might give rise to a professional obligation to report suspected money laundering.

Following the recent introduction of aggravated tax fraud and tax swindling into the list of primary money laundering offenses into the Luxembourg criminal code, the CSSF has highlighted professional obligations regarding customer due diligence, internal organization and cooperation with the authorities.

A list of the indicators that might create a professional obligation to file suspicious activity reports is attached to the circular.

The circular (CSSF 17/650) is only available in French.