Luxembourg Financial Intelligence Unit (CRF) has published their 2023 Annual report which includes information on sanctions:
- 160 reports on suspicion of evading sanctions were received by CRF in 2023;
- 2 information requests related to sanctions evasion were sent by CRF in 2022 and 13 – in 2023;
- EUR 46m was blocked in 2023 in 2 sanctions evasion cases;
- 30 declarations related to sanctions evasion were submitted in 2023;
- 7 reports on violation of professional obligations related to sanctions were submitted in 2023.
The Annual report also states that after the restrictive measures against Russia entered into force, there have been a sharp increase in communication and exchanges between the CRF and the Ministry of Finance of Luxembourg.
How Gherson can help
Gherson lawyers can help you to navigate the complexity of sanctions legislation and ensure your full compliance with it. We can assist in developing your company compliance policies, including sanction policies and deliver training to your employees, both in the UK or overseas.
The information in this blog is for general information purposes only and does not purport to be comprehensive or to provide legal advice. Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position. Gherson accepts no responsibility for loss which may arise from accessing or reliance on information contained in this blog. For formal advice on the current law please do not hesitate to contact Gherson. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Gherson.
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