ABBL - The Luxembourg Bankers' Association

Easy money can come with a very high price.

A fake job offer. A request to transfer funds. A quick commission for “helping out”.

That can be enough to turn someone from a victim into an accomplice to money laundering.

In the latest episode of the Luxembourg Times’ 𝘙𝘦𝘥 𝘍𝘭𝘢𝘨𝘴 𝘱𝘰𝘥𝘤𝘢𝘴𝘵, Hélène Lange, 𝗛𝗲𝗮𝗱 𝗼𝗳 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗖𝗼𝗼𝗿𝗱𝗶𝗻𝗮𝘁𝗶𝗼𝗻 𝗮𝘁 𝘁𝗵𝗲 𝗔𝗕𝗕𝗟, and Jeff Laroche 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗚𝗿𝗮𝗻𝗱 𝗗𝘂𝗰𝗮𝗹 𝗣𝗼𝗹𝗶𝗰𝗲 explain how money-mule schemes work, how people are recruited and why the consequences can follow them for years.

The episode was released as Luxembourg launched its 𝟮𝟬𝟮𝟲 𝗖𝘆𝗯𝗲𝗿𝗳𝗿𝗮𝘂𝗱 𝗰𝗮𝗺𝗽𝗮𝗶𝗴𝗻, led by the Luxembourg House of Cybersecurity with the ABBL and the 𝘍𝘰𝘯𝘥𝘢𝘵𝘪𝘰𝘯 𝘈𝘉𝘉𝘓 𝘱𝘰𝘶𝘳 𝘭’𝘌𝘥𝘶𝘤𝘢𝘵𝘪𝘰𝘯 𝘍𝘪𝘯𝘢𝘯𝘤𝘪𝘦̀𝘳𝘦 among the initiators.

Because fraud prevention is not only about spotting scams. It is also about understanding how seemingly harmless actions can draw people into criminal activity, and giving them the right reflexes early enough to avoid it.

👉 Read the full article:
https://lnkd.in/e4CBgZpa

FraudPrevention MoneyMules Cyberfraud FinancialEducation AML Cybersecurity Luxembourg

🤝 Welcome onboard, Herbert Smith Freehills Kramer!
The ABBL is proud to announce that 𝗛𝗲𝗿𝗯𝗲𝗿𝘁 𝗦𝗺𝗶𝘁𝗵 𝗙𝗿𝗲𝗲𝗵𝗶𝗹𝗹𝘀 𝗞𝗿𝗮𝗺𝗲𝗿 𝗟𝘂𝘅𝗲𝗺𝗯𝗼𝘂𝗿𝗴 𝗦𝗖𝗦 has been approved as a new member of our Association.

“𝘞𝘦 𝘢𝘳𝘦 𝘱𝘭𝘦𝘢𝘴𝘦𝘥 𝘵𝘰 𝘫𝘰𝘪𝘯 𝘵𝘩𝘦 𝘈𝘉𝘉𝘓, 𝘳𝘦𝘪𝘯𝘧𝘰𝘳𝘤𝘪𝘯𝘨 𝘰𝘶𝘳 𝘤𝘰𝘮𝘮𝘪𝘵𝘮𝘦𝘯𝘵 𝘵𝘰 𝘵𝘩𝘦 𝘓𝘶𝘹𝘦𝘮𝘣𝘰𝘶𝘳𝘨 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘤𝘰𝘮𝘮𝘶𝘯𝘪𝘵𝘺 𝘢𝘯𝘥 𝘵𝘰 𝘴𝘶𝘱𝘱𝘰𝘳𝘵𝘪𝘯𝘨 𝘵𝘩𝘦 𝘤𝘰𝘯𝘵𝘪𝘯𝘶𝘦𝘥 𝘨𝘳𝘰𝘸𝘵𝘩 𝘰𝘧 𝘵𝘩𝘦 𝘴𝘦𝘤𝘵𝘰𝘳. 𝘛𝘩𝘳𝘰𝘶𝘨𝘩 𝘵𝘩𝘪𝘴 𝘮𝘦𝘮𝘣𝘦𝘳𝘴𝘩𝘪𝘱, 𝘸𝘦 𝘭𝘰𝘰𝘬 𝘧𝘰𝘳𝘸𝘢𝘳𝘥 𝘵𝘰 𝘤𝘰𝘯𝘵𝘳𝘪𝘣𝘶𝘵𝘪𝘯𝘨 𝘰𝘶𝘳 𝘪𝘯𝘵𝘦𝘳𝘯𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘱𝘦𝘳𝘴𝘱𝘦𝘤𝘵𝘪𝘷𝘦 𝘢𝘯𝘥 𝘭𝘰𝘤𝘢𝘭 𝘦𝘹𝘱𝘦𝘳𝘵𝘪𝘴𝘦 𝘸𝘩𝘪𝘭𝘦 𝘴𝘵𝘳𝘦𝘯𝘨𝘵𝘩𝘦𝘯𝘪𝘯𝘨 𝘤𝘰𝘭𝘭𝘢𝘣𝘰𝘳𝘢𝘵𝘪𝘰𝘯 𝘸𝘪𝘵𝘩 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘴𝘵𝘢𝘬𝘦𝘩𝘰𝘭𝘥𝘦𝘳𝘴.”
— Laurent Massinon, Partner, 𝗛𝗲𝗿𝗯𝗲𝗿𝘁 𝗦𝗺𝗶𝘁𝗵 𝗙𝗿𝗲𝗲𝗵𝗶𝗹𝗹𝘀 𝗞𝗿𝗮𝗺𝗲𝗿 𝗟𝘂𝘅𝗲𝗺𝗯𝗼𝘂𝗿𝗴

🚀 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘫𝘰𝘪𝘯 𝘵𝘩𝘦 𝘈𝘉𝘉𝘓? 𝘊𝘰𝘯𝘵𝘢𝘤𝘵 𝘰𝘶𝘳 𝘔𝘦𝘮𝘣𝘦𝘳 𝘙𝘦𝘭𝘢𝘵𝘪𝘰𝘯𝘴 𝘵𝘦𝘢𝘮!
📧 𝘮𝘦𝘮𝘣𝘦𝘳-𝘳𝘦𝘭𝘢𝘵𝘪𝘰𝘯𝘴@𝘢𝘣𝘣𝘭.𝘭𝘶 | Sarah Odru

ABBLnewmember Luxembourg bankingcommunity

𝗙𝗿𝗮𝘂𝗱 𝗰𝗮𝗻 𝘁𝗮𝗸𝗲 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝗳𝗼𝗿𝗺𝘀. 𝗧𝗵𝗲 𝘄𝗮𝗿𝗻𝗶𝗻𝗴 𝘀𝗶𝗴𝗻𝘀 𝗮𝗿𝗲 𝗼𝗳𝘁𝗲𝗻 𝘁𝗵𝗲 𝘀𝗮𝗺𝗲. 🚨

Bank fraud.
Identity theft.
Administrative fraud.

The scenario may change, but certain signals should always make us pause: 𝗮𝗻 𝘂𝗻𝘂𝘀𝘂𝗮𝗹 𝗿𝗲𝗾𝘂𝗲𝘀𝘁, 𝘂𝗻𝗲𝘅𝗽𝗲𝗰𝘁𝗲𝗱 𝗰𝗼𝗻𝘁𝗮𝗰𝘁, 𝗽𝗿𝗲𝘀𝘀𝘂𝗿𝗲 𝘁𝗼 𝗮𝗰𝘁 𝗾𝘂𝗶𝗰𝗸𝗹𝘆 𝗼𝗿 𝗮 𝗿𝗲𝗾𝘂𝗲𝘀𝘁 𝗳𝗼𝗿 𝘀𝗲𝗻𝘀𝗶𝘁𝗶𝘃𝗲 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻.

For the ABBL and the 𝙁𝙤𝙣𝙙𝙖𝙩𝙞𝙤𝙣 𝘼𝘽𝘽𝙇 𝙥𝙤𝙪𝙧 𝙡’𝙀𝙙𝙪𝙘𝙖𝙩𝙞𝙤𝙣 𝙁𝙞𝙣𝙖𝙣𝙘𝙞𝙚̀𝙧𝙚, helping people recognise these red flags is a key part of fraud prevention. The earlier a suspicious situation is identified, the easier it is to stop, verify and avoid acting under pressure.

𝗰𝘆𝗯𝗲𝗿𝗳𝗿𝗮𝘂𝗱.𝗹𝘂 brings together the main fraud scenarios currently seen in Luxembourg and explains the warning signs to look out for. 🔎

👉 Learn how to spot the warning signs:
𝗵𝘁𝘁𝗽𝘀://𝗰𝘆𝗯𝗲𝗿𝗳𝗿𝗮𝘂𝗱.𝗹𝘂

𝗗𝗢𝗡’𝗧 𝗖𝗟𝗜𝗖𝗞. 𝗖𝗛𝗘𝗖𝗞. 𝗥𝗘𝗣𝗢𝗥𝗧. ✅

Luxembourg House of Cybersecurity | ABBL | Banque centrale du Luxembourg (BCL) | Direction de la protection des consommateurs (Luxembourg) | Commission de Surveillance du Secteur Financier (CSSF) | INSTITUT LUXEMBOURGEOIS DE RÉGULATION | LuxTrust S.A. | BEE SECURE | Commissariat aux Assurances (CAA) | MyConnectivity G.I.E. | Ministère de l'Économie - Luxembourg

Cyberfraud CybersecurityMonth NationalResilienceDays LëtzPrepare Cybersecurity FraudPrevention Luxembourg

𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 & 𝗜𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝗮𝗹 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗣𝗲𝗿𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲𝘀 | 𝗘𝗽𝗶𝘀𝗼𝗱𝗲 𝟰
Corporate lending is evolving as companies face increasingly complex financing needs. Working capital, capital expenditure, acquisitions, refinancing, infrastructure and transformation projects each require a different approach.

As a result, the role of corporate banks is broadening beyond the provision of capital. For more complex transactions, maturity, repayment profile, security, covenants and risk allocation need to be considered together, with financing adapted to the client’s objectives and the life of the transaction.

In the fourth edition of our 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 & 𝗜𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝗮𝗹 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗣𝗲𝗿𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲𝘀 series, Charles Pinon, Head of Structured Solutions & Leasing at Societe Generale 𝗟𝘂𝘅𝗲𝗺𝗯𝗼𝘂𝗿𝗴, explores how corporate lending is adapting to increasingly sophisticated investment and financing needs.

As Charles Pinon explains:
“𝘐𝘯 𝘓𝘶𝘹𝘦𝘮𝘣𝘰𝘶𝘳𝘨, 𝘤𝘰𝘳𝘱𝘰𝘳𝘢𝘵𝘦 𝘭𝘦𝘯𝘥𝘪𝘯𝘨 𝘪𝘴 𝘦𝘷𝘰𝘭𝘷𝘪𝘯𝘨 𝘧𝘳𝘰𝘮 𝘱𝘳𝘰𝘷𝘪𝘥𝘪𝘯𝘨 𝘤𝘢𝘱𝘪𝘵𝘢𝘭 𝘵𝘰 𝘴𝘵𝘳𝘶𝘤𝘵𝘶𝘳𝘪𝘯𝘨 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘯𝘨 𝘢𝘳𝘰𝘶𝘯𝘥 𝘪𝘯𝘤𝘳𝘦𝘢𝘴𝘪𝘯𝘨𝘭𝘺 𝘤𝘰𝘮𝘱𝘭𝘦𝘹 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘯𝘦𝘦𝘥𝘴.”

Luxembourg brings particular value when financing crosses borders, combining an international banking community with experience in multi-jurisdictional transactions and access to specialised financial and legal expertise.

Looking ahead:
“𝘈𝘴 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘯𝘨 𝘯𝘦𝘦𝘥𝘴 𝘣𝘦𝘤𝘰𝘮𝘦 𝘮𝘰𝘳𝘦 𝘴𝘰𝘱𝘩𝘪𝘴𝘵𝘪𝘤𝘢𝘵𝘦𝘥, 𝘤𝘰𝘳𝘱𝘰𝘳𝘢𝘵𝘦 𝘭𝘦𝘯𝘥𝘪𝘯𝘨 𝘸𝘪𝘭𝘭 𝘪𝘯𝘤𝘳𝘦𝘢𝘴𝘪𝘯𝘨𝘭𝘺 𝘣𝘦 𝘥𝘦𝘧𝘪𝘯𝘦𝘥 𝘯𝘰𝘵 𝘴𝘪𝘮𝘱𝘭𝘺 𝘣𝘺 𝘢𝘤𝘤𝘦𝘴𝘴 𝘵𝘰 𝘤𝘢𝘱𝘪𝘵𝘢𝘭, 𝘣𝘶𝘵 𝘣𝘺 𝘵𝘩𝘦 𝘢𝘣𝘪𝘭𝘪𝘵𝘺 𝘵𝘰 𝘴𝘵𝘳𝘶𝘤𝘵𝘶𝘳𝘦 𝘪𝘵 𝘦𝘧𝘧𝘦𝘤𝘵𝘪𝘷𝘦𝘭𝘺 𝘢𝘳𝘰𝘶𝘯𝘥 𝘳𝘪𝘴𝘬, 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘯𝘥 𝘭𝘰𝘯𝘨-𝘵𝘦𝘳𝘮 𝘨𝘳𝘰𝘸𝘵𝘩.”

📖 Read the full feature: https://lnkd.in/e52m-KUw

Hélène Lange | Charles Pinon | Societe Generale | Anda Asaftei | 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗖𝗹𝘂𝘀𝘁𝗲𝗿

ABBL CorporateBanking InstitutionalBanking CorporateLending StructuredFinance CrossBorderFinance Luxembourg