The Commission de Surveillance du Secteur Financier (CSSF) has just imposed a fine of €4.6 million on Banque Internationale à Luxembourg. In particular, for certain weaknesses noted in its anti-money laundering and anti-terrorist financing system.

Bil (Banque internationale à Luxembourg) has just been fined €4.6 million by the CSSF. The gendarme of the financial center has identified within the BIL certain "weaknesses in its system of fight against money laundering and the financing of terrorism".

Following the Panama Papers scandal, the CSSF had already sanctioned four banks and five financial entities.

Following this decision, BIL decided to communicate quickly. He recalled that the controls, conducted in 2017 and 2018, "focused on a sample of customers from the countries of the Commonwealth of Independent States, thus representing a limited number of customers whose inherent risk is generally considered high". Above all, the bank points out, "no money laundering or terrorist financing activity has been identified".

He said in his statement that "with the new shareholding structure and under the leadership of the new CEO, BIL has quickly taken appropriate measures to correct the weaknesses identified".