Financial Inclusion and Crime Prevention Take Center Stage in Andorra

Strengthening Anti-Money Laundering Framework

The government of Andorra has been proactive in enhancing its anti-money laundering (AML) and terrorist financing (TF) framework. Given its small but economically stable status, the nation recognizes the importance of staying at the forefront of evolving global standards in these areas.

Implementing Legislative Updates

Regular legislative updates have been a cornerstone of this effort, aimed at transposing European Union regulations as outlined in the Monetary Agreement between Andorra and the EU. This commitment underscores the country’s dedication to upholding international norms, particularly those set by:

• Financial Action Task Force (FATF): A global body that sets standards for AML and TF.
• Moneyval: A Council of Europe body responsible for evaluating AML measures.

Improving Implementation through Regular Evaluations

Andorra has been subject to regular evaluations by Moneyval, which have served as a catalyst for improvements in the implementation of relevant international standards. The country’s progress is closely monitored through FATF recommendations, ensuring that Andorra remains compliant with global best practices in financial crime prevention.

Enhancing Financial Inclusion and Crime Prevention

For more information on Andorra’s initiatives and commitment to financial inclusion and crime prevention, readers are directed to the Unitat d’Intel·ligència Financera d’Andorra website at www.uifand.ad.