Risk assessment – due diligence, organisation and cooperation – measures to be implemented Anti-money laundering and countering the financing of terrorism (AML/CTF) originally concerned the banking and then the financial sector. However, it is sufficient to refer to the description of the money laundering mechanism (read more here) to reach the conclusion that the risk […]
Administrative fines – criminal sanctions (2004 law and Penal Code) – judgment on agreement Anti-money laundering and countering the financing of terrorism (AML/CTF) requires professionals to comply with a strict and multi-source regulation. As set out in the section describing relevant requirements (read more here), professionals shall implement a reliable, permanent and effective vigilance mechanism […]
Suspicion: a feeling or belief that someone has committed a crime or done something wrong (Cambridge dictionary) Among the obligations imposed on professionals in the fight against money laundering and countering the financing of terrorism is the obligation to report suspicious transactions (read more here). Thus, when entering into a business relationship or when establishing […]
Money laundering – primary offence – tax fraud – constituent elements Money laundering consists in injecting money from illicit operations into the legitimate financial system by concealing the illicit origin of the income. In practice, money laundering takes place in several stages, each of which is punishable. I. The laundering mechanism Once the illegal activity […]
AML Directives – amended law of 2004 – criminal Code – Circulars – Guidelines Background Anti-money laundering and countering the financing of terrorism (AML/CTF) has a relatively recent origin. The creation of the Financial Action Task Force on money laundering (FATF) at the G7 summit in Paris in 1989 is often regarded as its starting […]
Que faire pour un commerçant lorsque son compte auprès d’une plateforme de E-commerce (Amazon, Booking…) est suspendu, résilié où encore lorsqu’il se voit imposer des modifications de conditions générales défavorables ?
Selon la jurisprudence le bailleur ne peut pas exiger le paiement des loyers pendant les périodes de fermeture administrative
Digital identity – electronic signature – legal recognition In the wake of COVID-19, teleworking has increased significantly and remote business exchanges have become the norm. In this respect, the electronic signature (e-signature) offers a simple and efficient alternative for people and companies who need to execute documents or agreements remotely. E-signature Until recently, a signature […]
Extrajudicial debt collection – Judicial debt collection in Luxembourg – Cross-border disputes, Community procedures The collection of outstanding invoices is unfortunately an inherent part of every company’s life. To a lesser extent, this problem also concerns private individuals. How to manage this unforeseen and unpleasant constraint? The following is a brief description of certain debt […]
Right to information of shareholders – management expertise (article 1400-3 of the companies law) – application to limited liability companies (yes) – application to foreign subsidiaries (upon certain conditions) – implementation (details) Right to information In some instances minority shareholders consider that they are not sufficiently informed about the activities of the company in which […]