Weak regulation in Andorra is a threat to the EU financial system, according to a new report

Anti-corruption expert Martin Kreutner published a report that looks at anti-corruption and anti-money laundering measures in Andorra. He concludes that weak regulation in the country could be a threat to the EU financial system and describes Andorra as a financial ‘Trojan Horse’.

The report covers the BPA case as, according to the author, the government's failure to deal with it competently “has the lasting potential to cast a shadow over the Andorran authorities and their ability/willingness to judiciously manage its banking sector and AML mechanisms.”

Alleged and adjudicated scandals have rocked Andorra in recent years. Understanding the state of play of the Principality’s anti-corruption and anti-money laundering architecture is critical if Andorra is to be allowed further EU integration. Improving anti-corruption and anti-money laundering regulations should be at the centre of Andorra’s agenda, especially in the upcoming elections.

To read the full report, visit: https://andorraanticorruption.com/

This was first reported by Market Watch.