The Financial Sector Supervisory Commission (CSSF) conducted on-site inspections at the headquarters of the Spuerkeess (BCEE) and BGL BNP Paribas as part of the Caritas affair. Both banks were also visited by the judicial police regarding the same case. Searches were confirmed to Paperjam by both the public prosecutor’s office and the CSSF.

Earlier this week, Reporter reported that a preliminary judicial enquiry had been opened against these two banks to see how these financial establishments could so easily have transferred Caritas funds to Spanish banks. 125 transfers were allegedly made via these two banks to the Spanish bank BBVA for a total value of €62m. Whether they failed to comply with their professional obligations, and in particular their anti-money laundering obligations, or whether they were complicit is the crux of these investigations.

Not stopping there

At his back-to-school press conference on 4 September, the prime minister, (CSV), said that he “” and indicated that the CSSF had been asked by the government, via the ministry of finance, to look into any shortcomings on the part of the banks. As the state is a 34% shareholder in BGL BNP Paribas and a 100% shareholder in Spuerkeess, its representatives will also be calling the management to account.

(At the time of publication, the two banks had not yet responded to Paperjam’s inquiries. This article may be updated later today)

These on-site inspections come at a time when the OGBL is demonstrating in front of the Chamber of Deputies about the new contracts that Caritas employees will have to sign to join the new structure, . On Wednesday evening, during an information meeting at the Casino syndical in Bonnevoie, discussions were at times tense between union representatives and some employees, who criticised the union for its position.

This article was originally published in .