The Financial Crimes Enforcement Network (FinCEN) recently named Banca Privada d’Andorra (BPA) as a foreign financial institution of primary money laundering concern. “This finding and notice of proposed rulemaking are based on information indicating that, for several years, high-level managers at BPA have knowingly facilitated transactions on behalf of third-party money launderers acting on behalf of transnational criminal organizations”. To Access full article: Click here

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Andorran authorities steps in and takes control of BPA. To Access full article: Click here

Spanish authorities intervenes in the management of Banco de Madrid, a subsidiary of BPA. To Access full article: Click here