This technical note (TN) sets out the findings and recommendations made in the 2017 Financial Sector Assessment Program (FSAP) Update for Luxembourg in a few selected areas of Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT). It summarizes the findings of a targeted review of Luxembourg‘s progress in addressing vulnerabilities in its AML/CFT framework that have been identified by staff as being most significant in context, namely those with respect to tax crimes as predicate offenses to money laundering (ML), access to adequate beneficial ownership information of legal persons and arrangements, AML/CFT supervision of banks, trust and company services providers (TCSPs), and lawyers, and the detection and exchange of financial intelligence.