Anti-money laundering and counter terrorist financing – mandatory survey due in March 2021

The AML/CFT Survey must be submitted by 15 March 2021 through the CSSF eDesk portal.

The objective of the AML/CFT Survey is to collect key standardised information on the money laundering and terrorist financing (“ML/TF”) risks to which professionals under CSSF supervision are exposed, and on the implementation of measures to mitigate these risks. This cross-sectoral survey contributes to the CSSF’s ongoing assessment of the ML/TF risks present in the financial sectors under its supervision, and forms part of the AML/CFT risk-based supervision approach it has applied since 2018.

Although the AML/CFT Survey for 2020 remains largely unchanged from the previous year, a few new questions have been added following recent amendments to Luxembourg’s AML/CFT legal framework.

By 15 March 2021, impacted entities must have their AML/CFT Survey submitted through the CSSF eDesk portal by:

  • the compliance officer in charge of the control of compliance with the professional obligations (the responsable du contrôle du respect des obligations professionnelles, or “RC”), or
  • the person responsible for compliance with the professional obligations (the responsable du respect des obligations professionnelles, or “RR”).

Through the CSSF eDesk portal, it is possible to designate another employee of the entity or a third party to complete the AML/CFT Survey. However, entities should bear in mind that the ultimate responsibility for proper completion of the survey will remain with the RC or RR.

In order to submit the AML/CFT Survey through the CSSF eDesk portal, the relevant person must have an eDesk account (which in turn requires Lux Trust authentication credentials). In-scope entities should create and activate the eDesk account in advance in order to avoid connection problems when the AML/CFT Survey is launched, and to ensure that they do not miss the survey deadline. As a reminder, these entities include authorised and registered AIFMs, Luxembourg management companies, Luxembourg branches of foreign management companies, and self-managed CSSF-regulated UCIs.