An arrest in Turin on a Luxembourg warrant is the latest turn in the Caritas fraud, a €61.2 million embezzlement that has grown into a money-laundering case spanning nine countries.
Both residents and non-residents can open a bank account in Luxembourg. The main retail banks are Spuerkeess (BCEE), BGL BNP Paribas, BIL, ING Luxembourg and POST Finance, alongside neobanks like Revolut and N26 for everyday spending. You typically need a valid passport or ID, proof of address, your matricule (national social security number) and often an employment contract. An in-branch identity check is common, but several banks let you start online. Fees vary by bank.
The two largest Luxembourg-headquartered retail banks reported full-year 2025 results in late April 2026 within a week of each other, both above expectations.