Luxembourg is a founding member of the Financial Action Task Force on Money Laundering (FATF).
Legislation in Luxembourg is strict and intransigent as regards money laundering and financing terrorism, and, on certain points, goes beyond the provisions provided for by international regulations and recommendations.
Consequently, insurance companies are obliged to identify the clients with whom they come into contact and have a duty diligently and thoroughly to examine transactions in order to preclude the risk of laundering. The company also has a duty to cooperate fully with supervisory authorities. It is also obliged to inform them, on its own initiative, of the details regarding any transaction suspected to be related with laundering operations or financing terrorism.
Euresa-life has put all necessary procedures for identification of the type of operations carried out in place. In particular, we refuse any contract that may be connected with FATF blacklisted countries. Also, in the case of all investments, we require clients to fill in a client profile to enable us to know more about the policyholder and understand the motive for his investment.