Luxembourg’s BIL Highlights Client Protection Measures Against Fraud

On Sunday 7 September 2025, the Banque Internationale à Luxembourg (BIL) released a statement entitled “Our priority: protecting our clients and protecting the Bank against fraudsters”, reasserting its position on recent fraud schemes targeting Luxembourg’s financial centre.

BIL emphasised that the recent wave of banking fraud has affected the entire financial sector, noting: “For years, the bank has been investing in advanced technologies and expertise, and it will continue to act with determination on two fronts: protecting its clients and supporting them when they are victims, while relentlessly strengthening its already robust infrastructure.”

“We know that behind every fraud case there are victims, some of whom find themselves in great difficulty. We are doing everything we can to support them as best as possible and to prevent these situations from happening again,” commented Jeffrey Dentzer, CEO of BIL.

A growing and organised threat

In 2024, the Grand Ducal Police recorded close to 6,400 cases of fraud in Luxembourg, a number that continues to rise. BIL noted that fraudsters are increasingly well-organised and use sophisticated methods, including fake websites imitating bank portals, fake invoices, misleading sponsored links on search engines, as well as text messages and phone calls from fake advisors. While security measures are regularly adapted and strengthened and awareness campaigns are multiplying, these still do not prevent clients from falling victim to fraud attempts.

Measures implemented by BIL when a case is detected

According to the bank, for each case of fraud detected, BIL implements a series of immediate measures: blocking the affected client accounts, cards and LuxTrust certificate; blocking outgoing funds; contacting recipient banks to recover transferred funds; and systematically reporting each fake website to its host and to search engines so it can be deactivated.

When the funds cannot be recalled

In some cases, despite these measures, the funds transferred cannot be recovered because they have already been moved elsewhere. In the case of the malvertising campaign in July, for example, three-quarters of attempted fraudulent transfers were successfully blocked before execution. Some of the funds already transferred were also recovered, but in other cases the recall did not succeed as the money had already been moved abroad by the fraudsters.

BIL stressed that it closely monitors each case, noting that judicial and banking proceedings are underway. As these involve several jurisdictions and financial institutions, the bank warned that proceedings will be “long and complex, and do not guarantee the recovery of funds”.

Nicolas Remarck, Head of Cybersecurity at BIL, added: “We understand that this uncertainty is difficult for victims. That’s why we are doing everything we can to provide rigorous follow-up. We are working closely with the authorities and the Luxembourg financial sector.”

Filing a complaint with the Public Prosecutor

BIL, which stated it is also a victim in this matter, confirmed that it has filed a complaint with the Public Prosecutor’s Office of the Luxembourg District Court, while reserving the right to bring a civil case. The bank noted that it is now up to the justice system to conduct its investigation. Complaints have also been filed with foreign banks to which funds were fraudulently transferred and with the search engine that was the entry point for the attack.

BIL’s commitment

The bank acknowledged the financial and psychological impact of such frauds on victims and announced that it has launched a review of its fraud case management process in order to shorten response times, enhance communication and personalised follow-up with clients, and simplify the steps that victims need to take.

To address evolving fraud scenarios, BIL stated that it will continue to improve support for clients, raise public awareness of fraud risks and invest in cybersecurity. The bank concluded that “the fight against fraud is a collective one: it involves banks, judicial and police authorities. It also requires the vigilance of everyone. Protecting our clients against fraudsters is our absolute priority.”