Oversight of Cross-Border Funds Distribution: The Assurance and Benefits Provided by an Effective AML and CTF Audit

Giovanni Frau, CAMS-Audit

Anti-money laundering (AML) tops the agenda for senior managers and boards of directors of Luxembourg investment funds. Regulatory pressure to comply with AML and counter-terrorist financing (CTF) has increased globally. In Europe, more banks and financial institutions have been facing the prospect of multi-million Euro penalties for breaches of AML/CTF regulations than ever before. Increasingly, regulators are requiring the completion of annual ad-hoc AML/CTF reports.

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