Luxembourg: Council Approves Draft Law for Transposition of the 5th AMLD

On August 8, 2019, Draft Law 7467/00 transposing certain provisions of the 5th Anti-Money Laundering Directive (5th AMLD) was presented to the Chamber of Deputies, the unicameral national legislature of Luxembourg. 

The draft law was approved by the Council of Luxembourg in the government meeting held on July 26, 2019, in which the Council announced that the transposition of the 5th AMLD is one of the government's priorities. 

The purpose of this bill is to amend the amended Act of November 12, 2004 on the fight against money laundering and the financing of terrorism and other laws transposing through different texts at the national level the provisions of the 5th AMLD, including:

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