5th Moneyval evaluation

Constant adaptation to international standards in the field of money laundering and terrorism financing 

Committee of Experts of the European Council

Moneyval is the committee of experts of the Council of Europe that evaluates the measures against money laundering and terrorism financing implemented by jurisdictions.

On the 14th of November 2017, Moneyval published the Fifth Round Mutual Evaluation Report on Andorra.

The report acknowledges the profound changes the Principality has undertaken in its legislative framework concerning money laundering, financing of terrorism and tax crime.

Moneyval underlines that these changes demonstrate a strong commitment not only from the Government and administration but also from the rest of obliged parties. The report notes the strong commitment demonstrated by Financial Institutions.

Moneyval also praises Andorra for proactively seeking and providing legal assistance to foreign jurisdictions.

Finally, the report calls for the monitoring and implementation of the national action plan enacted to mitigate risks and for encouraging coordination between supervisory authorities.