EFG Bank Swept Up in Luxembourg Money Laundering Crackdown
02/03/2026
Prosecutors in Luxembourg have raided the local offices of Swiss private lender EFG Bank as part of an ongoing investigation into suspected breaches of the country’s anti-money laundering (AML) and counter‑terrorist financing (CTF) laws.
The search, executed earlier this week, follows a preliminary inquiry opened in 2025 examining whether the bank failed to meet mandatory vigilance, organisational, and cooperation obligations required under Luxembourg’s AML/CTF framework.
Authorities deployed a specialised team of 24 police officers, including members of the anti-money laundering and technology crime units, supported by officials from the Luxembourg Public Prosecutor’s Office, to conduct coordinated search-and-seizure measures at the bank’s premises. Investigators are focusing on allegations of insufficient client due‑diligence, deficiencies in internal governance, and potential failures to communicate required information to competent authorities.
EFG Bank confirmed that officials were present at its Luxembourg offices on 24 February 2026, adding that the institution is fully cooperating with the investigation and remains committed to robust compliance and risk‑management standards.
At this stage, no charges have been issued and the presumption of innocence applies.
The action comes amid heightened global scrutiny of cross-border private banking and wealth management operations, particularly those involving Swiss financial institutions, as international regulators intensify efforts to identify and address AML/CTF vulnerabilities.
SOURCE LINKS (as requested — all at the end)
- https://www.amlintelligence.com/2026/02/latest-luxembourg-police-raid-swiss-private-bank-efg-in-money-laundering-probe/
- https://www.finews.com/news/english-news/71372-efg-international-swiss-banking-luxemburg-ermittlungen-geldwaescherei-durchsuchung-razzia-wealth-mangement-2
- https://globalinvestigationsreview.com/article/luxembourg-authorities-raid-swiss-bank
- https://ground.news/article/authorities-search-swiss-banks-luxembourg-offices_e1c726
- https://www.lessentiel.lu/fr/story/banque-au-luxembourg-les-locaux-d-efg-bank-ont-ete-perquisitionnes-103514647
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