Moneyval has published the third follow-up report of the 5th round of mutual evaluations of the Principality of Andorra, which was adopted on November 2021.

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 to comply with the FATF Recommendations since the mutual evaluation conducted in 2017 and the first and second follow-up reports of December 2018 and December 2019, respectively.

On this occasion, Moneyval has upgraded to "Largely Compliant" the rating of Recommendation 8, related to non-profit organisations (NPOs), which places Andorra in a position of “Compliant” or “Largely Compliant” with 37 out of the 40 FATF Recommendations.

The FATF has published an update of the Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers, which is available at the following link.

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.

The technical communiqué CT-05/2021, regarding the update of the FATF’s list of high-risk countries, is now available in the Applicable Technical Communiqués section.

The Ministry of Justice and Interior has published a guide for associations and foundations on the prevention of terrorist financing, which is available at the following links:

https://www.associacions.ad/prevencio-financament-terrorisme
https://www.interior.ad/fundacions/prevencio-financament-terrorisme

Technical Communiqué CT-04/2021, regarding the obligations, risk indicators and main methods used by terrorists or terrorist organisations to abuse NPOs, is available at the section "Applicable Technical Communiqués".

A new informative note addressed at NPOs, with the aim to help to mitigate the inherent terrorist financing risks via a series of best practices, is available at the section "Other publications".

The Basel Institute of Governance has published the 2021 edition of the AML Index “Basel AML Index 2021”

A new technical communiqué (CT-03/2021), regarding the update of the European Union’s list on high-risk third countries, is now available in the "Applicable Technical Communiqués" section.

Letter from the Head