March 2015 - BPA’s expropriation

The publication of FinCEN's notice triggered the expropriation of BPA and its subsidiaries. In Andorra, BPA was taken over by the Andorran National Institute of Finance (INAF – currently known as AFA) and was placed under the administration of the State Agency for Banking Resolutions (AREB). In Spain, Banco De España, the country’s central bank, took over Banco Madrid and placed it under the administration of the Anti-Money Laundering Supervisory Authority (SEPBLAC).