The search focused on several potential issues, including a lack of customer oversight and potential AML rule breaches.
In a statement to AML Intelligence, EFG said: “We confirm that on 24 February 2026 local authorities were on site in our offices in Luxembourg.
“We are fully cooperating with the authorities in this preliminary investigation.
“EFG is committed to maintaining a robust and effective risk and compliance framework and to fully comply with all applicable laws and regulations.”
EFG Bank (Luxembourg) is a subsidiary of the Swiss group EFG International. It is one of Switzerland’s largest private lenders, with over 3,000 employees.
The bank provides wealth management and services for high-net-worth and institutional clients.
Some 24 members of the Judicial Police Service searched the premises of EFG Bank (Luxembourg) earlier this week. The raid is part of a preliminary investigation opened in 2025.
Two officials from the Luxembourg Public Prosecutor’s Office also joined the operation.
The Luxembourg Public Prosecutor’s Office and the Judicial Police Service did not immediately respond to a request for comment.
Currently, officials have not announced any charges.
The move comes as Swiss banks have come under the spotlight internationally over potential AML issues.
Yesterday, the U.S. moved to cut MBaer Merchant Bank AG off from the U.S. financial system. The Treasury Department claimed that the bank facilitated corruption linked to Russian money laundering.
Source : Amlintelligence
