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The Financial Action Task Force, or FATF, concluded Wednesday that Luxembourg, a global financial center and top destination for wealth management in Europe, has developed one of the most technically sound systems of rules against illicit finance of any country to date. All told, FATF rated Luxembourg "compliant" or "largely compliant" with 39 of the group's 40 recommendations for building a legal and regulatory framework against money laundering and other financial crimes, good enough to place the country slightly below Qatar, on par with Bermuda and just ahead of Spain, France and the United Kingdom. "Key strengths of the Luxembourg...