Technical Communiqué CT-02/2020, which adapts CT-01/2017, regarding the main risk indicators and methods used by terrorists or terrorist organisation to abuse NPOs, to the current legislation is now available in the section "Applicable Technical Communiqués".

Technical Communiqué CT-01/2020, which modifies the periodicity of the periodic reporting established by CT-05/2018, applicable only to banking entities, is now available on the section "Applicable Technical Communiqués"

Moneyval has published the second follow-up report of the 5th round of mutual evaluations of the Principality of Andorra, which was discussed and adopted at its 59th Plenary Session in December 2019.

Report (english)

The report is available in the "Moneyval" section and on the Moneyval’s website.

This report evaluates 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 and the first follow-up report in December 2018, in order to comply with the FATF Recommendations.

Moneyval has upgraded to "Largely Compliant" the ratings of three Recommendations, in particular:

· Recommendation 25 (Transparency and beneficial ownership of legal arrangements)
· Recommendation 26 (Regulation and supervision of financial institutions)
· Recommendation 28 (Regulation and supervision of DNFBPs)

A new informative note, with the aim to help reporting entities, especially those pertaining to the non-banking financial sector, to perform the ongoing monitoring of business relationships and the record keeping and updating is now available in the "Other publications" section.

Today the initial meeting for the update of the National Risk Assessment 2020 has taken place. This presentation has been addressed to both reporting entities, financial and non-financial, and the public sector, Ministries and other state organisations, all of them duly represented.

You can now find, in the “restrictive measures” section, a new version of the guide for the application of restrictive measures according to FATF Recommendations 6 and 7. This new version is updated in line with the legislation in force in terms of AML/CFT and the current International standards, and replaces the February 2017 version. The main novelties include, among others, the formalisation of the procedures to request the modification and/or lifting of restrictive measures and to request an exclusion from the List. The corresponding forms are available in the “forms” section.

We take this opportunity to remind all reporting entities of the need to implement effective procedures to detect designated persons and entities in the lists which are referenced in the guide and, in case of a match, to immediately apply restrictive measures against that person or entity (mainly the termination of the provision of a product or service or freezing the funds), as well as the communication of this fact to the UIFAND using the corresponding forms available in the “forms” section. This procedure differs from the one that must be applied whenever a suspicion of ML or TF arises, in which its own specific form must be used and no further measures of a restrictive nature are required.

The 2nd follow-up report of the Principality of Andorra within the 5th round of mutual evaluations has been approved and adopted at the 59th Moneyval Plenary, held in December.

The current situation regarding the ratings of compliance with the FATF Recommendations, which is highly positive, means that the Principality has been requested to report back at the Plenary regarding the progress achieved later than initially expected, in this case on July 2021.

Once the report is published by Moneyval, it will be made available through the UIFAND website.

UIFAND informs that on November 27th, 2019 a new webpage will be available for the purpose of communication and public consultation.

This new webpage, also available in English, provides an update of its contents and offers an easier and more functional navigation.

The technical communiqué CT-09/2019, regarding the update of the FATF’s list of high-risk countries, is now available in the “Applicable Technical Communiqués” section.

Technical communiqués, concerning the instructions that financial reporting entities must follow in order to conduct the annual external audit, are now available in the “Applicable Technical Communiqués” section.