The FATF Recommendations set out a comprehensive and consistent framework of measures which countries should implement in order to combat money laundering and terrorist financing, as well as the financing of proliferation of weapons of mass destruction. Countries have diverse legal, administrative and operational frameworks and different financial systems, and so cannot all take identical measures to counter these threats.
Luxembourg builds almost all of its AML rules and regulations based on FATF/GAFI view and therefore essential literature is a MUST read if you want to understand how to combat money laundering and understand AML risks.
Shall you need help – contact FUND AML and we will help you to build AML/CFT Policy which will reflect best practices and outline appropriate compliance processes.
