Andorra Cracks Down on Money Laundering with Detection Machines Amid International Scrutiny

Andorra has been actively adopting legislative initiatives to prioritize the prevention and fight against money laundering and terrorist financing in line with evolving international standards set by bodies such as the Financial Action Task Force (FATF) and Moneyval. The country’s commitments to transpose European Union regulations also play a crucial role in this effort.

Efforts to Combat Money Laundering

As part of its efforts, Andorra is subject to regular evaluations by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism of the Council of Europe (Moneyval). To ensure adequate implementation of relevant international standards, it is essential that the country materializes FATF recommendations.

Key Initiatives

• Implementation of European Union regulations
• Regular evaluations by Moneyval
• Adoption of legislative initiatives to prevent money laundering and terrorist financing

Additional Resources

For more information on Andorra’s efforts to combat money laundering, please visit the Unitat d’Intel·ligència Financera d’Andorra website at www.uifand.ad.