Inventory of Assets Under Management;
Credit: BGA
On Thursday 16 October 2025, Luxembourg’s Asset Management Office (Bureau de gestion des avoirs - BGA) presented its 2024 activity report, detailing its operations, financial results and contributions to the fight against money laundering, terrorist financing and other forms of serious crime.
Created under the law of 22 June 2022, the BGA operates under the authority of the Minister of Justice but functions as an operationally independent State service.
As of 31 December 2024, the BGA managed 6,718 assets with an estimated total value exceeding €1.42 billion, composed mainly of credit balances (45.6%) and securities accounts (38.7%). The number of ongoing cases rose from 762 in 2023 to 1,653 in 2024. About one-fifth of the assets have been under management for more than ten years, another fifth between five and ten years, and three-fifths were seized within the past five years.
The BGA employs thirteen people and has an operating budget of €0.4 million, with personnel costs of around €1 million. Its 2024 financial results far exceeded its expenditure, generating €8.688 million in revenue, €6.124 million of which was transferred to the Public Treasury and €2.564 million to the Fund for Combating Certain Forms of Crime.
In 2024, the BGA further developed its expertise in managing complex assets. It disposed of 27 lots of seized goods worth €1.008 million due to depreciation risks or disproportionate maintenance costs. These included a lot of 58,019 cigars, sold for €485,000, and the safe disposal of several tonnes of seized fireworks that posed risks to public safety and the environment.
The BGA also contributed to the execution of 838 court decisions covering 1,481 assets with a total value of €242.065 million. Among the confiscated goods sold were 147 collector’s watches auctioned in June 2024 at Casino 2000 in Mondorf-les-Bains for €1.8 million. The proceeds were transferred to the Fund for Combating Certain Forms of Crime, which finances initiatives against money laundering, terrorist financing and drug trafficking. In addition, the BGA supervised the recycling and destruction of 164 tonnes of unsellable property, including over eleven tonnes of expired medicines.
The BGA also negotiated nine asset-sharing agreements worth a total of €1.909 million with the Netherlands (five), Belgium (three) and France (one) on behalf of the Luxembourg government.
The report includes judicial statistics on seizures, restitutions, confiscations and attributions. In 2024, judicial authorities seized assets valued at €300 million and issued rulings totalling €238 million. The report also breaks down figures by asset type, legal basis, and offence category, covering seven main categories: credit balances, securities accounts, cash, virtual assets, real estate, vehicles and other goods.
