AML monitoring and investigations

Our dedicated Luxembourg Anti-Money Laundering (AML) team serves a range of professionals in the financial and non-financial sectors. We cater to professionals subject to AML regulations, providing them with the necessary assistance.

Related topics Banking and capital markets Financial Services Disrupting financial crime

The team

Christine Frentz

Christine Frentz

EY Luxembourg Partner, Extended Assurance

Deborah Kalenga Muela

Deborah Kalenga Muela

EY Luxembourg Senior Manager, Extended Assurance

Thibaut Dussaucy

Thibaut Dussaucy

EY Luxembourg Senior Manager, AML Extended Assurance

Our Luxembourg AML services

Our dedicated team based in Luxembourg comprises over 60 experienced AML professionals. Our team serves a range of professionals in the financial and non-financial sectors, such as banks, investment funds, asset servicers, management companies, payment institutions, e-money institutions, PFSs, investment firms and insurance companies. We cater to professionals subjected to AML regulations (supervised by the Commission de Surveillance du Secteur Financier (CSSF), the Commissariat aux Assurances (CAA) or L'Administration de l'Enregistrement, des Domaines et de la TVA (AED)), providing them with the necessary assistance.

As the AML/CTF landscape continues to evolve dynamically, the burden on compliance and AML/KYC specialists increases with the expansion of regulatory requirements. There is a crucial need for a disciplined and proactive approach to address these regulatory, considering the significant risks, such as reputational and financial damages, associated with non-compliance.

Our dedicated team of experts is well-versed in effectively managing such complexities of the financial regulatory landscape. We aim to provide your compliance function, “Responsable du Respect” and “Responsable du Contrôle” (hereafter “RR” and “RC”) with the necessary support and expertise, thus ensuring an advanced level of readiness to handle all your regulatory and compliance needs.

What EY can do for you

As an AML expert team, we offer a range of comprehensive AML services. Each service is designed with a supportive, hands-on approach to ensure your organization's full compliance with AML regulations, while enhancing your readiness and resilience against potential risks.

  • AML Remediation

    AML KYC has been a focal point in Luxembourg for several years, with regulators stressing the importance of maintaining an accurate and updated AML KYC database.

    Having a backlog of files requiring periodic review could potentially result in fines and damage to your reputation. 

    Given our team’s vast experience in remediation, we are adept at managing labor-intensive exercises, like that of AML KYC, efficiently. Our objective is to swiftly align your organization with regulations, placing you in a good position for the future.

    Our AML remediation strategy is rooted in best practices, local regulation and extensive expertise accumulated by our team through myriad successful remediation projects. We fuse our solid understanding of local regulations with top-quality market practices, effectively offsetting any negative impacts past non-compliance might have had on your future regulatory standing.

    Our mission is to remedy past lapses, laying the groundwork for an enhanced compliance footprint to support your organization’s success regarding Know Your Customer, Know Your Transactions, Know Your Distributors, Know Your Investments, and Know Your Assets.

  • AML Diagnostic

    We are able to assess your organization's level of compliance with AML regulations by performing detailed analyses of existing systems, policies and procedures. This includes scrutinizing KYC processes, risk assessments, transaction monitoring methods, and reporting systems.

  • Mock Inspection Exercise

    Thanks to having over 10 years of experience in serving a range of financial institutions, our team has gained extensive about the regulator’s expectations as well as best market practices.

    Through our realistic simulations of regulatory audits and inspections, we will prepare your organization for the scrutiny of actual regulatory bodies. This creates a culture of readiness, refines processes, and reduces non-compliance risks.

  • Process and Procedure Creation/Update/Review

    Our team can assist you in developing, modifying, and reviewing AML policies and procedures to align with the most recent regulatory requirements. We can also perform a gap analysis, design corrective measures and action plans, and ensure follow-up of remediated actions. We can perform sample testing and/or specific due diligence. 

  • RC Support

    We offer ongoing assistance to your RC function, elevating its effectiveness in maintaining your adherence to regulatory standards. This includes strategic advice, operational support, assistance to reporting to regulators and boards, and resources to meet regulatory expectations.

  • AML Training

    Our tailor-made training programs empower your in-house teams with a deep understanding of AML regulations, KYC requirements and obligations and emerging trends in money laundering. This prepares your team and your board to effectively recognize and respond to AML issues and to be in line with the regulation. Workshops are also possible to answer specific needs.

  • AML Transformation

    Our team is able facilitate significant enhancements in your AML strategies, involving setting up specialized KYC units, assisting in choosing and implementing suitable AML software applications, and modernizing AML procedures and KYC processes to achieve a holistic transformation of your AML compliance approach.

Why EY

EY is a worldwide leader in the fight to disrupt financial crime. EY teams made up of 3,800+ industry and domain professionals from across the globe bring a wealth of knowledge and strong relationships with regulators.

We have invested US$100m in a proprietary financial crime compliance platform, which is the foundation for our monitoring and investigation services. Based on industry standards and controls, the platform facilitates the use of AI and machine learning so our clients can incorporate larger and more complex data sets into their AML systems.

Located in Luxembourg, our team of 60 AML professionals has been trained (and benefits from continuous training) via intense programs. This has enabled them to deliver exceptional services since our department was founded in 2013.

What sets us apart is our combination of local proficiency and broad international perspectives. This is established due to the vast variety of nationalities and languages spoken by our team members and their knowledge of local, European, and other regulations. 

From our Luxembourg hub, we provide a comprehensive local service along which benefits from our extensive international EY network. Our global reach ensures our solutions are both locally relevant and globally competent, meeting the diverse needs of our international clients effectively.

Contact us

Want a demo of our AML monitoring and investigation tool? Get in touch.