The Moneyval has published the first follow-up report of the 5th round of mutual evaluations of the Principality of Andorra:
The report is also available in the "Moneyval" section and on the Moneyval’s website.
This report analyzes the progress made by the Principality of Andorra and the new measures that have been put in place since the mutual evaluation conducted in 2017, in order to comply with the FATF Recommendations. The Moneyval has re-assessed the ratings of 12 Recommendations, in particular:
· Recommendations 3 (money laundering offence), 12 (politically exposed persons), 16 (wire transfers), 22 (DNFBPs’ customer due diligence), 23 (DNFBPs’ other measures) and 34 (guidance and feedback) have been upgraded to a "Largely Compliant" rating.
· Recommendations 2 (national cooperation and coordination), 11 (record keeping), 15 (new technologies), 20 (reporting of suspicious transactions), 21 (tipping-off and confidentiality) and 32 (cash couriers) have been re-assessed as "Compliant".