Tips and tricks for an effective LCB-FT system and securing its procedures
The fight against money laundering is a subject that concerns all professionals in the financial sector. If the rules are common, the recommendations of the authorities and associations specify them according to the sector of activity, and this in particular for the real estate sector which presents specific risks.
Thus the national risk assessment of Luxembourg for 2020 had highlighted that "the real estate and construction sectors are considered to be at high risk (LCB-FT)". Indeed, on real estate transactions of significant amounts, the origin of the funds can be concealed. In addition, fixed assets are particularly vulnerable because they can serve as a store of value over the long term and allow capital gains to be realized.
To understand all the LCB-FT obligations related to the specificities of the sector and to improve your practice, meet our expert at the news conference on Tuesday, November 15, 2022 "The fight against money laundering and the financing of terrorism in the real estate sector » in 100% remote.
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