Authorities in Luxembourg have carried out a law-enforcement search at the offices of EFG International’s Luxembourg subsidiary, marking a significant development in an ongoing money-laundering investigation.
The operation, conducted by Luxembourg’s judicial authorities, forms part of a probe launched in 2025 examining potential weaknesses in anti-money laundering (AML) controls and regulatory compliance. Investigators are reportedly assessing whether proper due diligence, transaction monitoring, and reporting obligations were fully met under Luxembourg’s financial crime framework.
EFG confirmed that officials visited its Luxembourg premises and stated that it is cooperating fully with authorities. The bank emphasized its commitment to compliance and risk management, noting that it maintains internal systems designed to meet international regulatory standards.
While no formal charges have been announced, the search underscores increasing scrutiny of private banks operating in major European financial centres. Luxembourg, known for its cross-border banking sector and wealth management services, has faced growing pressure in recent years to strengthen AML enforcement and oversight mechanisms.
The case highlights a broader regulatory trend across Europe, where authorities are intensifying investigations into financial institutions’ controls around high-risk clients, complex ownership structures, and cross-jurisdictional fund flows. Even at the preliminary stage, such actions signal that regulators are prepared to intervene where they suspect gaps in compliance frameworks.
The investigation remains ongoing, and further developments will depend on the findings of the authorities’ review of internal documentation and client records.
