Three stages of money laundering: Placement, Layering and Integration
Investment fund managers (IFMs) and investment funds are now put under additional pressure in light of a recent AML/CTF Circular 21/788 issued by Luxembourg regulator CSSF. Impacted entities have to evaluate processes and operational factors that are critical for their AML/CTF activities.
The EY article offers a brief summary of the latest changes.
AP Outsourcing Group offers automated name screening tools, and refreshes any outdated data collection along with AML/CTF frameworks.
Source: https://www.ey.com/en_lu/financial-services/cssf-reinforces-requirements-to-counter-financial-crime
