Compliance & governance
AML / KYC compliance in Luxembourg
Professionals subject to the rules in Luxembourg must meet strict anti-money-laundering and counter-terrorist-financing obligations (Law of 12 November 2004): know your customer (KYC), risk assessment, identification of beneficial owners, record-keeping and reporting of suspicious transactions to the FIU. The firm sets up and audits your AML/KYC framework.
In short
AML/KYC compliance in Luxembourg refers to the anti-money laundering and counter-terrorist financing obligations (law of 12 November 2004) of regulated professionals: client knowledge, risk assessment, identification of beneficial owners and reporting of suspicious transactions to the FIU. Cerno Law Firm implements and audits the framework.
Responsible for legal content: Maître Cora Maglo, Avocate à la Cour, Liste I du Barreau de Luxembourg depuis 2009. · Applicable law: Luxembourg
AML / KYC compliance in Luxembourg: key points at a glance
| Item | What to know |
|---|---|
| Fees | Fixed fee or ongoing support. Depending on the scope (audit, documentation, ongoing support). |
| Indicative timing | Basic compliance can be achieved within a few weeks depending on the scope. |
| Documents required |
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| Deliverables |
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AML/KYC compliance is not a mere formality: it is an organised framework (policies, procedures, controls) whose absence exposes you to sanctions and to criminal risk.
Cerno Law Firm designs, audits and updates your compliance programme, tailored to your activity and to your level of risk.
AML / KYC compliance in Luxembourg: when should you call on the firm?
You are a subject professional and must have a compliant AML/KYC framework.
The obligations are numerous and are monitored by the authorities.
What happens if you do nothing?
Administrative and criminal sanctions, liability of the directors, reputational harm, withdrawal of authorisation.
A framework that exists on paper but is not applied offers no protection.
How does the firm step in?
Risk assessment, drafting of KYC policies and procedures, training, and support in the event of an inspection.
Coordination with the identification of beneficial owners (RBE).
Practice areas
When to call on the firm
- Set up an AML/KYC framework.
- Audit and update an existing programme.
- Train the teams and the compliance officer.
- Prepare for or manage an inspection by the authorities.
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FAQ
Frequently asked questions
Who is subject to AML obligations in Luxembourg?
Many professionals (the financial sector, but also certain non-financial professions) are subject to the Law of 12 November 2004. The firm checks your situation.
What is KYC?
"Know Your Customer": the set of measures to identify and understand the client, their beneficial owners and the source of funds, proportionate to the risk.
What must be reported in the event of a suspicion?
A suspicious transaction report must be sent to the Financial Intelligence Unit (FIU); the firm supports you through this process.
Handled with our network of partners. On regulated matters (funds, AIFM, depositary, CSSF authorisation), Cerno Law Firm provides legal advice and coordination, working where appropriate with lawyers and partners holding the required expertise (management, depositary, CSSF compliance). You keep a single point of contact.
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Founded in 2013; Maître Cora Maglo has been admitted to the Luxembourg Bar since 2009
- 2013
- independent firm
- 2009
- at the Bar since 2009
- 4,7/5
- 81 Google reviewsRead reviews
Expertise & authority
Ongoing review and analysis of Luxembourg and European case law
Avocate à la Cour, List I of the Luxembourg Bar since 2009
Trained at the London School of Economics, formerly at Clifford Chance and Bonn Steichen & Partners
Member of international networks: EILN, AEA, Cross Border Advisory Solutions
Every matter handled and approved by a lawyer admitted to the Bar
Support in French and English
Testimonials
What our clients say
Selected excerpts from public reviews. Consult the Google listing for all ratings and comments; a testimonial does not guarantee a legal outcome.
Had a consultation with Me Cora Maglo about my Luxembourg Blue Card application. She explained everything clearly: the process, timeline and documents I need, and helped me with my wife’s family reunification too. Honest and practical advice. I felt confident after talking to her.F. P.J’ai beaucoup apprécié le service de Maître Maglo : son sérieux, sa sympathie, son professionnalisme et sa disponibilité. Toujours répondu rapidement et clairement, avec des conseils pragmatiques, sans pousser à des procédures longues et coûteuses lorsqu’elles ne sont pas justifiées.N. W.Super assistance and great support! Highly recommend. All my questions were answered, Cora and her team kept me updated all the time. I will definitely reach out to them next time for my residency.T.They talk about us
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