index

Preface

index

Preface
PART 2

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Annex I

Correlation table – FATF Recommendations

FATF RECOMMENDATIONSAML Handbook
Risk-based approach:

  • Recommendation 1

Part II: Content of the professional obligations, Chapter 1: “Risk-based approach”, Section 1: “Identification and assessment of risks” and Section 2: “Management and mitigation of risks”
Money laundering and terrorist financing offences:

  • Recommendations 3 and 5

Part I: Scope of application of the professional obligations, Chapter 1: “Material scope of application”:

Annex II: “Table of predicate offences”
Targeted financial sanctions/other sanctions:

  • Recommendations 6 and 7 (terrorism - proliferation)

  • Recommendation 35 (effective – proportionate – dissuasive sanctions)

See Annex III
Financial institution secrecy laws:

  • Recommendation 9

Part I: Scope of application of the professional obligations, Chapter 1: “Material scope of application”, Section 1: “Money laundering and terrorist financing offences”
Customer due diligence obligation:

  • Recommendation 10

Part II: Content of the professional obligations:
Retention of documents:

  • Recommendation 11

Part II: Content of the professional obligations:
Politically exposed persons (PEPs):

  • Recommendation 12

  • Recommendations 12 and 22 of the guidelines entitled “Politically exposed persons” (June 2013)

Part II: Content of the professional obligations, Chapter 3: “Enhanced customer due diligence obligations”, Section 1: “Politically exposed persons”
Correspondent banking

  • Recommendation 13

Part II: Content of the professional obligations, Chapter 3: “Enhanced customer due diligence obligations”, Section 2: “Correspondent banks”
New technologies

  • Recommendation 15

Part II: Content of the professional obligations,

Chapter 1: “Risk-based approach”, subsection 2.3: “Mitigation of specific risk factors according to the business activities concerned”
Electronic transfers

  • Recommendation 16

Part II: Content of the professional obligations, Chapter 8: “Obligations in the case of giro payments and transfers of funds”
Recourse to third parties

  • Recommendation 17

Part II: Content of the professional obligations, Chapter 4: “Practical application of due diligence measures”:
Internal controls/foreign branches and subsidiaries

(AML/CFT at group level)

  • Recommendation 18


 
Part I: Scope of application of the professional obligations, Chapter 2, Section 2: “Application of the professional obligations to foreign subsidiaries and branches of professionals carrying on their activities in Luxembourg”
Higher-risk countries

  • Recommendation 19

Part Il: Content of the professional obligations, Chapter 1:
Suspicious operations report

  • Recommendations 20 and 21

Part I: Scope of application of the professional obligations:
Transparency and beneficial owners of legal persons

  • Recommendation 24

Part II: Content of the professional obligations, Chapter 2, subsection 2: “Identification and verification of the identity of the beneficial owners”
Transparency and beneficial owners of legal arrangements

  • Recommendation 25

Part II: Content of the professional obligations, Chapter 2, subsection 2: “Identification and verification of the identity of the beneficial owners”