{"id":455,"date":"2022-12-21T05:26:42","date_gmt":"2022-12-21T09:26:42","guid":{"rendered":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/?p=455"},"modified":"2024-02-22T05:31:04","modified_gmt":"2024-02-22T09:31:04","slug":"luxembourg-cssf-fines-bank-e1-56-million-for-sanctions-and-aml-compliance-failings","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2022\/12\/21\/luxembourg-cssf-fines-bank-e1-56-million-for-sanctions-and-aml-compliance-failings\/","title":{"rendered":"Luxembourg &#8211; CSSF fines bank \u20ac1.56 million for sanctions and AML compliance failings"},"content":{"rendered":"<p>The Luxembourg financial services regulator, the CSSF, has <a href=\"https:\/\/www.cssf.lu\/wp-content\/uploads\/S_39_B_Banque_Degroof_Petercam_Luxembourg_S.A._211222_en.pdf\">announced today<\/a> the imposition of a fine of \u20ac1.56 million on Banque Degroof Petercam Luxembourg SA.<\/p>\n<p>The fine followed an inspection which started in September 2019, and relates to compliance failings in the context of AML and terrorist financing, and a failure to adequately screen clients for inclusion on EU sanctions lists.<\/p>\n<p>The CSSF noted that remedial steps have been taken by the bank since the inspection of 2019\/2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Luxembourg financial services regulator, the CSSF, has announced today the imposition of a fine of \u20ac1.56 million on Banque Degroof Petercam Luxembourg SA. The fine followed an inspection which started in September 2019, and relates to compliance failings in the context of AML and terrorist financing, and a failure to adequately screen clients for &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2022\/12\/21\/luxembourg-cssf-fines-bank-e1-56-million-for-sanctions-and-aml-compliance-failings\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Luxembourg &#8211; CSSF fines bank \u20ac1.56 million for sanctions and AML compliance failings&#8221;<\/span><\/a><\/p>\n","protected":false},"author":656,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77,71],"tags":[20,12,84],"ppma_author":[7],"class_list":["post-455","post","type-post","status-publish","format-standard","hentry","category-77","category-financial-services","tag-financial-sanctions","tag-fine","tag-luxembourg"],"authors":[{"term_id":7,"user_id":656,"is_guest":0,"slug":"mhandley","display_name":"Mark Handley","avatar_url":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-content\/uploads\/sites\/65\/2023\/09\/handleymark-100x100.jpg","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/users\/656"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/comments?post=455"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/455\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/media?parent=455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/categories?post=455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/tags?post=455"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/ppma_author?post=455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}