Supervision

CSSF urges vigilance on Hamas funding, 91 NGOs monitored

Luxembourg fund managers ordered to review costs and fees
Luxembourg’s financial supervisor CSSF is urging banks, investment funds and the general public in the Grand Duchy to be extra vigilant in relation to money transfers that could finance terrorist groups such as Hamas and Islamic Jihad. The reminder comes just a month after the world’s top body for fighting money laundering and terrorism finance said the sector’s understanding of terrorism finance is “very low”.
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