How well do Luxembourgish banks, like BIL, Spuerkees and BGL BNP Paribas, comply with European Anti-Money Laundering directives, and what challenges do they face ?

This dissertation examines to what extent three major Luxembourgish banks comply with European Anti-Money Laundering directives, and the challenges they face to be fully compliant. Luxembourg is particularly attractive for criminals due to its deep integration within international financial systems. Using a qualitative research approach, this dissertation analyses legal and regulatory framework, literatures, academic papers, statistics, internal compliance policies, news articles, reports, and case studies. The dissertation reveals that although the three Luxembourgish banks have implemented anti-money laundering internal policies, they are still struggling to fully comply with AML regulations due to lack of financial, technical, and human resources.