ANDORRA: AML/CFT UPDATE REPORT – IMPROVEMENT IN THE NON-PROFIT ORGANISATION SECTOR

On 7 December, Moneyval, the FATF-style regional body, said that Andorra has achieved full compliance with 9 of the 40 FATF Recommendations.  It retains minor deficiencies in the implementation of 28 Recommendations where it has been found “largely compliant”.  3 recommendations (new technologies, powers of law enforcement and international instruments) remain “partially compliant”, but Andorra has no “non-compliant” ratings.  Following up the original 2017 evaluation, the report is the 3^rd follow-up report.  Andorra will remain in enhanced follow-up and will continue to report back to MONEYVAL on progress to strengthen its implementation of AML/CFT measures. Andorra is expected to report back in 1 year’s time.

https://rm.coe.int/moneyval-2021-31-fur-andorra/1680a4ca4e

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017