Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) in Andorra
In a regulatory environment as dynamic as Andorra’s, compliance with AML/CFT standards is not merely a legal obligation before UIFAND; it is the cornerstone that sustains your business’s reputation and operational viability. Protect your entity and secure your future by complying with the utmost rigor.
At Triple A, we offer comprehensive advisory and external audit services specialized in Law 14/2017 and its subsequent amendments. We adapt to the specific reality of companies in the Principality to transform compliance into a strategic advantage.
Why choose our specialized consultancy?
Andorra has undergone a profound transformation in its compliance standards. Whether you are a financial or non-financial obligated subject, the complexity of the regulations requires an expert eye that combines local knowledge with international vision. Our service pillars are based on:
- ✓ Technical Expertise: Deep understanding of European directives and FATF recommendations applied to the Andorran framework.
- ✓ Risk-Based Approach (RBA): We design control systems proportional to your volume and risk profile, avoiding “one-size-fits-all” solutions.
- ✓ Discretion and Professionalism: We handle your information with the highest standards of confidentiality and professional ethics.
AML/CFT Consulting and Audit Services
We provide a 360° solution catalog to comply with Law 14/2017 and UIFAND requirements:
- ✓ Annual External Audit: External expert report required by regulations to evaluate your controls.
- ✓ Prevention Manuals: Drafting and updating internal policies and control procedures (OCI).
- ✓ Know Your Customer (KYC): Optimization of due diligence processes and analysis of ultimate beneficial owners and PEPs.
- ✓ Mandatory Training: Custom training for staff and management (annual requirement).
- ✓ Risk Analysis: Preparation of the individual risk self-assessment report required by UIFAND.
- ✓ Ongoing Advisory: Support for day-to-day operational doubts regarding regulatory compliance.
Obligated Subjects in Andorra: Does the law affect you?
If your activity falls within any of the following sectors, Law 14/2017 requires you to implement strict control measures. Non-compliance can lead to severe financial penalties and irreparable reputational damage.
| Sector | Affected Activities |
|---|---|
| Financial Sector | Banks, payment institutions, wealth managers, and insurance companies. |
| Non-Financial Sector | Real estate agents, economists, accountants, lawyers, jewelers, and art dealers. |
| New Players | Virtual Asset Service Providers (VASPs) and crypto-asset related entities. |
Is your company prepared for an inspection?
Do not wait for a formal request from UIFAND. A robust prevention system is the best introduction to regulators, partners, and banking institutions. Acting preventively is, without a doubt, your best investment.
Need a compliance diagnostic?
Our legal team will analyze your structure to guarantee a smooth and secure compliance process.