AMNESTY INTERNATIONAL LUXEMBOURG PRESS RELEASE
Released 12:00PM CET, 29 January 2016
Inadequate and incomplete regulations and policies on financing the arms sector mean there is little to stop banks from financing and investing in the production and transfer of internationally banned weapons or arms used to commit serious human rights violations, according to an Amnesty International Luxembourg report launched today.
The report, Banks, arms and human rights violations, looks into the failures of the Luxembourg financial sector to put in place regulations, policies and procedures to effectively curb financial support for arms-related activities.
While Luxembourg’s banks are in the spotlight, the report’s findings and recommendations are also applicable to other countries in the European Union and elsewhere.