The health crisis in no way affects the vigilance of the Commission de surveillance du secteur financier (CSSF), nor its ability to sanction. This time, it was the Banque Internationale à Luxembourg that was caught up by the patrol. The result is a fine of 4.6 million euros.

(DH) - Regulator of the financial centre, the CSSF continues its supervisory  tasks. In the wake of the Panama Papers case, in late 2017, the commission sanctioned four banks and five management companies before pinning Havilland a year later. This time, it is the turn of the BIL to find itself in the crosshairs of the financial gendarme who has just imposed an administrative penalty of 4.6 million euros.  

The CSSF imposed this sanction because of "certain weaknesses noted in its anti-money laundering and terrorist financing (AML/CFT) system," said a statement from the bank. These checks concerned a sample of clients from the countries of the Commonwealth of Independent States (an intergovernmental entity composed of 10 of the 15 former Soviet republics of the USSR), "thus representing a limited number of clients whose inherent risk is generally considered to be high. é' 

In addition, no money laundering or terrorist financing activity has been identified. "We have taken the appropriate corrective measures in relation to the weaknesses identified by the CSSF," says Marcel Leyers, CEO of BIL, in the press release sent on Monday.