The financial regulator of Luxembourg is the Central Bank, namely BCL (Banque centrale du Luxembourg), while the CSSF (Commission de Surveillance du Secteur Financier) has a supervisory function. The interference of state agencies in the banking sector is minimized, but Luxembourg banks themselves are subject to certain obligations in the framework of the fight against illicit financial flows and terrorism.
These measures include the identification of beneficial owners and sources of funds, strict control over transactions, especially cross-border ones, as well as other measures. If a client successfully passes all the checks and opens an account at a bank, he / she is provided with the comprehensive range of banking services and full confidentiality. The security of deposits is guaranteed. The loyalty to non-residents is also ensured.
