Regulation and rigour
The Andorran financial sector is one of the major pillars of the Andorran economy. Its supervision is broadly sound and therefore covers all aspects that are the subject of financial legislation in advanced countries
Banking supervisory body:
Andorran Financial Authority (AFA): Independent authority of the Andorran financial system in charge of supervising and controlling the implementation of the regulation of banking institutions and the insurance sector.
Combating money laundering
Financial Intelligence Unit of Andorra (UIFAND): Independent body that coordinates measures to combat money laundering and terrorist financing activities.
Criminalisation of tax offences in the Criminal Code since 2017.