Moneyval: Monaco participates in 5th Round Mutual Evaluation Report on Andorra
The Fifth Round Mutual Evaluation Report on Andorra was adopted during the 54th Moneyval plenary meeting, held from 26 to 28 September at the Council of Europe in Strasbourg.
The Principality, represented by Romain Bugnicourt (SICCFIN), was part of the evaluation team in its capacity as a peer country, alongside France, Romania and the Isle of Man.
Moneyval, the regional body of the Financial Action Task Force (FATF), assesses how well member countries are complying with international standards to counter money laundering and the financing of terrorism. During the fifth round, evaluations focused on the effectiveness of the measures taken by the countries under evaluation.
In this context, the evaluation of Andorra involved a technical analysis of the country’s regulations, followed by a two-week on-site visit during which the team met all of the public and private stakeholders involved in countering money laundering and terrorist financing (banks, legal firms, management companies, supervisors, public prosecutors, judges, police officers, etc.). A number of meetings were also held in Strasbourg.