Law 28/2008, Of 11 December, On The Modification Of The Law Of International Criminal Cooperation And The Fight Against The Laundering Of Money Or Securities Of International Crime, Of 29 December 2000

Original Language Title: Llei 28/2008, de l'11 de desembre, de modificació de la Llei de cooperació penal internacional i de lluita contra el blanqueig de diners o valors producte de la delinqüència internacional, del 29 de desembre del 2000

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Law 28/2008, of 11 December, on the modification of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000 since the General Council in its session of December 11, 2008 has approved the following: law 28/2008, of 11 December from modification of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000 preamble the constant evolution of international standards in the field of prevention and fight against money laundering and the financing of terrorism makes clear the need to adapt the law of international criminal cooperation and the fight against the laundering of money or securities of the international crime , 29 December 2000, and advise the adoption of harmonised provisions with the European environment, which are easily identifiable by the reviewers, agencies are adapted, when appropriate, to the particularities of the Andorran legal system.

The effective fight against the financing of terrorism requires a proper treatment and explicit in the law, and in particular, in regulating the fight against money laundering.

The evolution of international standards are reflected in this modification; the extension of the scope of the compulsory subjects, the definition of politically exposed persons, the definition of the true successor, the higher accuracy when it comes to detail the obligations of the compulsory subjects, especially those of due diligence, the introduction of risk criteria, the obligatory technical releases of the UIF are some of the essential aspects that picks up this law.

Formally this law amendment is divided into 27 articles, of which 23 articles modify articles of the law of 2000 and 4 articles are new, two additional provisions and three final provisions. It modifies the same title of the law and also the names of the title II, chapter IV, and in the seventh. Also, modify the articles 35, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57 and 58 of the 2000 Act, and created the articles 49 bis, ter, quater and quinquies 49 49 49. Finally, two additional provisions, the first relating to the associations and other non-profit entities, and the second to enable the Government to publish the consolidated text of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, including all modifications and additions provided by this law for the modification.

Article 1 Amendment of the title of the Act modifies the title of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "law of international criminal cooperation and the fight against the laundering of money or securities of international crime and the financing of terrorism" Article 2 changes in the name of the title II will modify the name of the title II of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "fight against money laundering and the financing of terrorism" Article 3 amendment of the title of chapter IV modifies the title of chapter IV of the law of international criminal cooperation and the fight against the laundering of money or securities product of international crime, of 29 December 2000, which is worded as follows: "the system of prevention of money laundering and the financing of terrorism" Article 4 Modification of the title of the seventh section modifies the title of the seventh section of the law of international criminal cooperation and the fight against the laundering of money or securities of the international crime , 29 December 2000, which is worded as follows: "body for prevention of money laundering and the financing of terrorism" Article 5 Modification of article 35 article 35 is modified of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows : "Article 35 if a written document carries, in addition to the information that can be reported abroad, items that fall within the scope of the secrets outlined in articles 190, 191 and 192 of the criminal code, the Mayor can set or set by a judicial police officer delegated for this purpose a copy or photocopy is to skip the prompts that can affect people outside the procedure or that may affect the same interested but not have to do with the lawsuit, as long as they do not reveal criminal punished in the Andorran criminal law. "

Article 6 Amendment of article 41 article 41 is modified of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 41 for the purposes of this law, it is understood by: a) infringement of money laundering or of the financing of terrorism, the Commission of any of the acts classified in the penal code.

b) UIF: the Andorran financial intelligence unit c) Subject required financial, natural or legal persons subject to the obligations defined by this law which belong to one of the following categories:-operating Components of the financial system.

-Insurance companies that are authorised to operate in the field of life.

-Postal giro Institutions.

d) Bank screen, credit institution or entity with similar activity constituted in a country without having a physical presence that allows them to exercise a real direction or management and that is not a subsidiary of a group subject to financial regulation equivalent to those of this law.

e) politically exposed Person, individuals who develop or have developed important public functions, as well as their family members and persons recognized as allies. The scope of the terms "important public functions", "close relatives" and "people recognized as related", you must determine the regulations.

f) service providers, corporations, and trusts, any natural or legal person


you pay for professional purposes the following services to third parties:-Constitution of society or other legal persons-served as acting as Director or Secretary of a company, a partner of a partnership or similar functions in relation to other legal persons or have another person exercising such functions-facilitate a social or commercial address, postal or administrative-exercising fiduciary functions in legal business of trust and other fiduciary structures are valid in accordance with Andorran legislation.

g) True successor or beneficiary effective, person or natural persons who ultimately control the client and/or the person for whose account the transaction or activity is carried out. The true successor includes, at least:-In the case of legal entities with corporate form, the person or persons who ultimately control the legal entity through ownership or control, direct or indirect, of a sufficient percentage in their share capital or of the voting rights. For this purpose it is considered enough of a percentage higher than 25%.

-In the case of other legal entities, legal business of trust and other fiduciary structures that manage and distribute funds, the person or the persons who control a percentage higher than 25% of the funds or their rights to vote. ".

Article 7 Amendment 42 article modifies the article 42 of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 42 Unless the precepts specifically applicable to compulsory subjects mentioned in article 45, the present Law covers all natural or legal persons any of which can channel or provide a money laundering or of the financing of terrorism. "

Article 8 Amendment of article 43 article 43 is modified of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 43 those who act on behalf of a third party are required to inform themselves properly from the origin of the funds they receive and the identity of his true successor in order to avoid any operation of money laundering or of the financing of terrorism. "

Article 9 Amendment of article 44 modifies the article 44 of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 44 The financial subjects forced must ensure that their branches, subsidiaries with shareholding or branches located abroad , they have to apply to commercial transactions or financial measures, equivalent to the provisions of this law for the prevention of money laundering and financing of terrorism.

If there is no substantial difference in the area of money laundering and financing of terrorism among the Andorran and foreign regulations, the entities mentioned in the previous section must apply the most demanding regulations as long as local rules permit.

In the event that the entities in the previous section cannot comply with the Andorran legislation in the area of money laundering and financing of terrorism due to incompatibilities with the local rules, you should notify the UIF. "

Article 10 Amendment 45 article modifies the article 45 of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 45 are subject to the obligations defined by the present Law subjects required financial as well as other natural or legal persons that , in the exercise of their profession or business activity, carry out, monitor or advise operations of movements of money or securities that could be susceptible to be used for money laundering or the financing of terrorism, and in particular: a) external accountants, auditors, tax advisors, professional economists and managers;

b) notaries, lawyers and other independent legal professions members when planning assistance to participate in or execution of transactions for their clients within the framework of the following activities:-purchase and sale of real estate property or commercial companies;

-handling of money, securities or other assets of the customers;

-opening or management of bank accounts, savings or titles;

-organisation of contributions necessary for the creation, management or management of companies;

-Constitution, management or direction of societies, of those held INTRUST or similar structures;

or when acting on behalf of its clients in any financial or real estate transaction;

c) sellers of articles of great value, such as stones, precious metals, when the payment is made in cash and by an amount equal to or greater than 30,000 euros, or the equivalent in any other currency;

d) service providers to companies and trusts are not included in another section of this article.

e) gambling establishments;

f) real estate agents who carry out activities related to the sale of property.

Notwithstanding the above, the compulsory subjects called to sections a) and b) of this article are not subject to the obligations defined in this law when they refer to information received from one of your customers or obtained about one of his clients when determined the legal status of your client or when developing its mission of defending or representing that client in legal proceedings or in connection with these with inclusion of advice relating to the opening or to the way to avoid a procedure, regardless of whether they have received or obtained this information before, during or after these procedures. ".

Article 11 Amendment of article 46 article 46 of the law modifies the international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 46 The compulsory subjects are required to declare in the UIF, the relevant effect, any operation or project of operation related to money or securities in respect of which there is suspicion of an act of money laundering or the financing of terrorism.


The Declaration must be accompanied by all the necessary documentation.

Subsequent to the Declaration of suspicion, the subject should be sent to the UIF any new element that has knowledge related to the Declaration. "

Article 12 Amendment 47 article modifies the article 47 of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 47 the obligation to declare should meet, regardless of what the country where it has been committed or may commit the alleged crime of money laundering or of the financing of terrorism , or where you come from or are intended for the funds.

The Declaration must be made before the subject must have the financial or economic operation doubtful. In this case, if there are sufficient indications that the UIF, orders temporarily blocking the operation.

This blockage may not exceed five days, within which the UIF should raise it if these signs have been distorted, and authorize the execution of the operation or, otherwise, to send the proceedings to the public prosecutor.

In any case, the UIF has no responsibility for damages caused by the blockade of capital carried out within the scope of their functions.

The issue of the Declaration of suspicion and any other additional information does not carry any responsibility for the sender even if done without knowing exactly what type of crime or illegal activity has been committed.

The UIF adopts all the adequate measures to protect the subjects required towards any threat or hostile action arising from the fulfilment of the obligations imposed by this law. In particular, it maintains the confidentiality of the identity of the sender of the declarations of suspicion in all administrative and judicial procedures with origin or relation to the declarations issued. "

Article 13 Amendment of the article 48 article 48 of the law modifies the international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 48 in any case cannot inform you of the existence of the Declaration the person or persons concerned nor third parties or give them information about the procedure in progress.

We can inform you of the existence or the content of any type of communication from the UIF, unless there is express written consent of this unit.

The administrators, managers and employees of the compulsory subjects are obliged to keep confidentiality with respect to information that affects their customers within the framework of its activity. To this end, shall take all measures of prudence and caution are appropriate with a view to the safeguarding of the confidentiality of the customers. The violation of the secrecy in the work environment and of professional secrecy, except for legal cause of justification, it constitutes a crime in the terms envisaged in the criminal code.

The compulsory subjects can only provide financial information on the relationships with its customers in the context of a judicial procedure and with prior written instruction of a mayor, and in the cases specifically established by the Andorran legislation.

Statements of operations that are suspected of money laundering or financing of terrorism carried out to the UIF for compulsory subjects are not in any way incompatible with the obligation to preserve the secrecy that protects the confidentiality of their clientele. Accordingly, the communication of information to this unit does not accept the compulsory subjects and his staff of any and all responsibility of all kinds, both of a general nature such as contractual in nature, even in the case in which the denunciation of a illegal activity done by suspicion is confirmed not really.

Except in those cases provided for in other provisions of the present law, the duty of confidentiality mentioned in the second paragraph of this article is not opposable to the UIF. In the case of opposition or incident in the development of their research and prerogatives, the UIF submits the case to the Mayor of the guard, which resolves after prior hearing of the public prosecutor's Office and the interested parties within a period of 48 hours to sentence immediately executori. ".

Article 14 Amendment of article 49 article 49 is modified of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 49. Due diligence measures 1. The compulsory subjects must respect the following: a) The compulsory subjects must have a special monitoring of all operations, even if they are not suspected, when they are classified as susceptible to lead operations of money laundering or of the financing of terrorism and classified of special surveillance by the UIF, by means of technical communications.

b) Provide to the UIF all the information requested in the exercise of its powers.

c) Are compulsory subjects should know the identity of their customers and of the true successors through the presentation of an official document at the time of establishing any business relationship.

-If the client is an individual, the subject has been forced to make sure of the identity of the client, their home and their professional activity. To this end, we must require the display of an official identity document with a photograph and you have to keep a copy.

-If the customer is a legal person, the subject required should be required: * reliable Document certifying their company name, legal form, address and corporate purpose.

* Justification, in the same way as the section c) first indent of this article, the identity of the natural person who, in accordance with the documentation presented, has powers of representation of the entity and of the powers and the powers conferred.

d) obtaining information on the purpose of the business relationship with the customer.

e) data collected must be up to date in terms that allow the proper identification of customers at the time of establishing the business relationship or carry out a transaction that may involve money laundering operations and the financing of terrorism.

2. the compulsory subjects detailed measures should be applied to the previous section on due diligence with respect to the client, but can determine the


degree of application depending on the risk and, depending on the type of customer, business relationship, product or transaction. The compulsory subjects must be in a position to demonstrate to the UIF, that the measures adopted have the right scope with respect to the risk of money laundering or of the financing of terrorism.

3. The subject required constant measures taken financial monitoring with regard to the new technologies in order to avoid any action that causes a false identification of the client in all transactions carried out at a distance.

4. the accounts is forbidden or anonymous savings books. ".

Article 15 Amendment of the article 50 modifies article 50 of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 50 for the purposes of compliance with the obligations referred to in article 49 of this law, the financial or non-financial subjects forced can delegate their effective application in third parties subject required. However, the subject must delegate continues to be responsible for the fulfilment of these obligations. "

Article 16 Amendment 51 article modifies the article 51 of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 51 without prejudice to compliance with the General rules governing the obligation of conservation of accounting documents and contract the compulsory subjects must preserve the documentation referred to in the present article for a minimum period of five years, from: a) the date of completion of their business relationships with regular customers.

b) from the date of the transaction in the event of occasional customers.

c) from the date on which any declaration of suspicion to the UIF.

Among these documents are necessarily must include information about the identity of the client, the nature and the date of the transaction, the type of currency and amount of the transaction and on the purpose and the intent of the business relationship with the customer.

The subjects have to ensure that this documentation and information is available to the competent authorities as soon as required.

The compulsory subjects must also ensure the veracity of the documents, information and any other data required its customers to comply with the provisions of this law. "

Article 17 Amendment of article 52 article 52 is modified of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 52 1. The compulsory subjects are financial: a) to hire an independent external audit in order to verify compliance with the provisions of this law and to send a copy of the report issued for this purpose to the UIF.

b) Designate the internal control and communication organ in charge of the Organization and monitoring of compliance with the rules against the fight of money laundering and the financing of terrorism and report it to the UIF.

c) Establish the internal audit and control procedures.

The UIF must be set by means of technical releases the criteria to be followed in regard to audits.

2. The subjects required non-financial, which are legal entities must designate the internal control and communication organ in charge of the Organization and monitoring of compliance with the rules against the fight of money laundering and the financing of terrorism and must report to the UIF.

The non-financial subjects forced individuals own the activities that determine their status as compulsory subjects, have the status of internal control and communication organ.

3. Notwithstanding the provisions of the previous technical release by the UIF apart, you can designate the self-regulatory body or professional association of the activity in question as the body to whom to report in the first instance in place of the UIF. In this case, corresponds to the autoreguladors bodies to carry out the corresponding communications to the UIF. "

Article 18 Amendment 53 article modifies the article 53 of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 53 1. The UIF is an independent body whose mission is to promote and coordinate measures for the prevention of money laundering and financing of terrorism, and its budget is in charge of the budget of the State.

2. The UIF has the functions of instruction, of decision and of the following proposition: to) manage and promote the activities of prevention and the fight against the use of the financial system entities or of another nature of the country for money laundering or the financing of terrorism, by means of the procedures and instrumental techniques, rules that are necessary. To this end, the UIF may issue technical communiqués which are compulsory.

b) Request any information or documents the subjects required to verify the application of the present law.

c) on-site inspections to verify the implementation of the present law.

d) Request and receive competent legal authorities, criminal record certificates.

e) Collect, gather and analyze the statements of compulsory subjects as well as all written or verbal communications received and make an assessment of the facts.

f) Request and receive any information in the service of police or to any official body within the limits of its mission.

g) Cooperate with other foreign agencies equivalent to according to the standards set in the eighth.

h) mild Sanction administrative offences established by this law.

and return it to the competent administrative authority) the dossiers instructed in what are facts that can constitute a serious administrative infringement and very severe, accompanied by a proposal for a sanction.

j) Submit to the public prosecutor, to the appropriate effect, cases in which appear reasonable suspicions of the Commission of a criminal offence.

k) file the remaining cases and preserve the dossiers for a minimum period of ten years.

l) inform the body which exercises the disciplinary power over the financial system of all the submissions of dossiers, is the public prosecutor's Office, is the Government when there are


entities are involved in the financial system. This information includes the name of the financial institution, a list of observed facts as well as the accounts listed in the dossier.

m) to submit to the Government legislative or regulatory proposals relating to the fight against money laundering and the financing of terrorism.

n) Prepare sufficient statistics in order to assess the effectiveness of the prevention and the fight against money laundering and the financing of terrorism.

or self-regulatory organization or Designate) professional association of the activity in question as the body to whom the compulsory subjects do not have financial report in the first instance. "

Article 19 Amendment of article 54 modifies the article 54 of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 54 1. The composition of the UIF is the following:-a maximum of three persons of recognized competence in the financial field named by the Minister head of finance;

-a mayor appointed by the Superior Council of Justice;

-a maximum of three members of the police force appointed by the Minister of interior at the proposal of the director of the police.

The Ministers of the Interior and of Finance jointly designate the head among the members of the UIF appointed by them.

2. members appointed by the Minister of the interior and by the Minister of finance owner have to devote himself full time to the duties assigned to it and cannot engage in any other public or private activity. The Mayor, ultra jurisdictional functions of its own, exercises in the framework of the UIF to the functions of ensuring the legal integrity of well-managed, to facilitate contacts with the administration of Justice and the other judges, and sent the dossiers on suspicious transactions to the competent authorities.

3. The Government shall determine by regulation the modalities relating to the organisation and the functioning of the UIF.

4. The members of the UIF and its administrative personnel assigned are subject to secrecy in the workplace and to professional secrecy under the penalties provided for in the penal code, both during the term of the relationship with the UIF as once this relationship. ".

Article 20 Amendment of article 55 modifies the article 55 of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 55 The UIF cooperates with other foreign agencies equivalent."

Article 21 Amendment 56 article modifies the article 56 of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 56 The sending of information concerning operations or projects of operations related to money laundering, the financing of terrorism and international crime , including extracts from the register of foreign bodies, to other equivalent can be carried out to the UIF on its own initiative or at the request of these bodies, with the prior authorization of the head of the UIF, and is subject to the fact that the receiving party can prove information prior to submission that meets the following conditions: a) reciprocity in the exchange of information;

b) the commitment, on the part of the recipient State, not using the information for any other purpose other than the one that haunts the present law;

c) foreign services information receivers are subjected under criminal sanction, the maintenance of professional secrecy. "

Article 22 Amendment of the article 57 modifies the article 57 of the law of international criminal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 57 penalties resulting from serious or very serious infringements set out in this chapter are declared and imposed by the Government , at the proposal of the UIF.

The sanctions arising from the minor offences are declared and imposed by the UIF. ".

Article 23 Amendment 58 article modifies the article 58 of the law on international penal cooperation and the fight against the laundering of money or securities of international crime, of 29 December 2000, which is worded as follows: "Article 58 the infractions are classified as minor, serious and very serious, as follows: 1. Are very serious offences : a) the default of the obligation to declare by the compulsory subjects.

b) The infringement of the prohibition set out in article 48.

c) negative, the excuse and the resistance to provide information to the UIF provided in paragraph b of article 49, except in the cases provided for in the last paragraph of article 45.

d) The reiteration of a serious violation in the same year.

2. serious offences Are: a) Not sure of the identity of the customers on the terms provided for in article 49 or may not have required the documents required in article 51.

b) insufficient verification of the true successor of the operation must be run in accordance with article 49 bis.

c) the lack of conservation of documents during the time set by article 51.

of appropriate and sufficient internal procedures have Not) of control and internal communication, in order to prevent and deter money laundering operations or the financing of terrorism, and not to carry out the specific audit provided for in article 52.

e) The reiteration of a mild violation in the same year.

3. minor offences Are: a) the non-communication to the UIF people enabled provided in article 52.

b) any infringement of the rules of the present law does not set out in the previous paragraphs. "

Article 24 of the article 49 bis creates the article 49 bis, which is worded as follows: "Article 49 bis 1. The compulsory subjects must verify with diligence, the identity of the client and, if applicable, of the true successors, before establishing any transaction or business relationship.

2. Notwithstanding the provisions of the previous section, the check of the identity of the client or of the true successor can be carried out subsequent to the first business relationship, when it is necessary not to put obstacles to the development of the operation provided that the risk of money laundering or of the financing of terrorism is weak. The process of identification must be


conclude as soon as possible. In the event that will develop an operation without prior verification of the identity of the client or of the true successor, and prior to its completion, you will need to write a report detailing the circumstances that prevent the identification of the data which are known to the client or successor in title as well as the operation, detailing those aspects required for a subsequent monitoring of money subject to the transaction or for a proper tracking of legal business made by the customer.

3. In the field of life insurance, the identity check can be carried out subsequent to the recruitment of the policy provided that this is done before the time when the beneficiary based or intends to exercise the rights that the policy gives.

4. You can proceed with the opening of bank accounts before the identification of the client if there are guarantees that the customer or any other on your behalf, not operations until they have fulfilled the obligations of identification.

5. cross-border transfers to an amount higher than 1,000 euros made by financial compulsory subjects must include complete information on the payer. The complete information on the payer should include the following information: a) name of the ordering party.

b) source account number of the transfer. In the absence of account number, the subject required financial must be accompanied with a transfer transaction identification number that allows your monitor to the ordering party.

c) address of the ordering party. The address may be replaced by the place and date of birth of the payer, his customer number or national identity number.

In the national transfer of any amount, the information can be limited to the source of the transfer account number or identifying number of the transaction, provided that the subject must transfer the running financial can provide complete information on the payer to the receiver of the transfer or the UIF, over a period of three working days.

The compulsory subjects properly should inform financial on the transmission of data relating to ordering transfers, prior to their execution.

The compulsory subjects must adopt financial measures of enhanced diligence referred to in article 49 c based on a risk analysis, when recipients of transfers that do not include the information on the payer required by this article.

6. In the event that the identification of the client cannot be carried out in accordance with article 49, the subject required to establish a business relationship may not be financial or carry out operations or transactions.

In the case of relationships already initiated, it should put an end to the relationship between business and assess the transmission of a communication to the UIF.

7. The financial subjects forced have to apply also the procedures of due diligence in respect of existing customers, at the right time based on the analysis of the risk. ".

Article 25 the Addition article 49 ter creates the article 49 ter, which is worded as follows: "Article 49 ter. simplified due diligence measures 1. Notwithstanding the provisions of the previous articles, the compulsory subjects are not subject to the obligations laid down in article 49 of this law provided that the customer is a subject bound to this financial credit institution or financial law or established in a country in the OECD that can impose requirements equivalent to those of this law and be monitored to ensure compliance with these requirements.

2. Notwithstanding the provisions of the previous articles, the subjects required financial are not subject to the obligations established in article 49 in the following cases: a) life insurance policies with an annual premium that does not exceed 1,000 euros or with a single premium that does not exceed 2,500 euros.

b) insurance policies for pension plans, as long as they do not include rescue clause nor can serve as collateral for a loan.

c) The pension plans, retirement or similar that include the payment of retirement benefits to employees, as long as the contributions are made through tax deductions on salary and the rules of the plan does not allow the transfer of its participation.

of electronic money) when the maximum amount of storage does not exceed 150 euros if this is not rechargeable, or the total amount available in a calendar year is limited to 2,500 euros, except when the carrier may request the refund of an amount equal to or greater than 1,000 euros in one year.

e) other products or transactions that represent a low risk of money laundering or of the financing of terrorism in accordance with the statements of the UIF. In any case, it is necessary to accompany the transcript of each operation with a short note identifying and justifying the technical release of the UIF applied in each case. ".

Article 26 adding the article 49 c creates the article 49 c, which is worded as follows: "Article 49 c. Enhanced due diligence measures 1. The compulsory subjects, in addition to the measures laid down in article 49, they have to apply, based on a risk analysis, enhanced due diligence measures in situations which by their nature can present a high risk of money laundering or of the financing of terrorism and at least in the following situations: a) When the customer has not been physically present for identification will have to adopt specific measures and to compensate for the increase in risk , for example through one or more of the following measures:-Ensure the determination of the identity of the customer through documents, data or additional information.

-Adopt supplementary measures to verify or certify the documents supplied, or ask for a certificate of confirmation issued by a subject bound financial subject to this law or a credit or financial institution established in one country in the OECD that can impose requirements equivalent to those of this law and is supervised to ensure compliance.

b) On the relations of Bank correspondent with foreign entities, corresponds to the credit institutions correspondents of Andorra:-Gather sufficient information about the entity as a foreign correspondent to understand the nature of their activity and determine, on the basis of information in the public domain, its reputation and the quality of their supervision.

-Evaluate the controls against money laundering and the financing of


terrorism held by the client.

-To obtain the authorization of the management before establishing new correspondent relationships Bank.

-Document the respective responsibilities of each entity.

-Respect of payment transfer accounts in other places (payable-through accounts), must have guarantees that the foreign correspondent has checked the identity and applied in all time measurements of due diligence on the customers having direct access to accounts of the correspondent in Andorra.

c) in relation to the transactions or business relationships with politically exposed persons residing abroad, corresponding to the compulsory subjects: financial-have suitable procedures in terms of risk in order to determine whether the customer is a politically exposed person.

-To obtain the authorization of the Directorate to establish a business relationship with your fingers customers.

-Adopt appropriate measures to determine the origin of the assets and the funds subject to the business relationship or transaction.

-Perform a reinforced monitoring and permanent business relationship.

2. It is prohibited to establish or maintain correspondent relationships with banks screen. They have to adopt appropriate measures to ensure that we do not establish or maintain correspondent relationships with banks of which is known that allow the use of their accounts by banks screen.

3. the products or transactions in favour of anonymity, it should take appropriate action in order to prevent them from being used for money laundering or the financing of terrorism. ".

Article 27 adding the article 49 article 49 is created quinquies quinquies, which is worded as follows: "Article 1-quinquies 49. The compulsory subjects must adopt the necessary measures to ensure that their staff have sufficient knowledge of the legal provisions in the field of prevention and fight against money laundering and the financing of terrorism.

2. the compulsory subjects must carry out specific programs of lifelong learning for your staff to help them detect operations which may be related to money laundering and the financing of terrorism.

3. The UIF, by means of training programmes by means of technical releases, informs the subjects forced on the current practices of the perpetrators of money laundering or financing of terrorism and on the signs that allow us to detect suspicious practices.

4. The UIF reports, whenever possible, the subjects required with respect to the effectiveness and monitoring of their declarations of suspicion. "

First additional provision. Associations and other non-profit bodies 1. The Board of Directors of associations that are governed by the law of associations, of 29 December 2000, and its staff with management responsibilities, must ensure that these associations are not used to channel the funds or resources to individuals and entities linked to terrorist organizations or groups, in accordance with the provisions in the legislation regulating the prevention and blocking of the financing of terrorism.

To this end, all the associations must keep records for five years, with the identity of every person who receives funds or resources of the Association, as well as the books register referred to in article 28 of the law of associations. These books and records must be at the disposal of the managers of the register of associations, and also of the administrative or judicial bodies with competence in the field of the prevention or prosecution of terrorism.

2. The obligations laid down in paragraph 1 above are applicable to the foundations or other non profit organizations, with the understanding that in such cases corresponds to the protectorate, the Board or the relevant representative body to manage the interests of the Organization, the compliance with this provision.

3. the scope of the obligations set out in this provision can develop regulations.

Second additional provision. Enabling the Government to publish a decree with the revised text of the law is responsible to the Government that, within a maximum period of three months from the date of entry into force of this law, published in the official bulletin of the Principality of Andorra, by Decree, and the revised text of the articles of the law of international criminal cooperation and the fight against the laundering of money or securities of the international crime , 29 December 2000, including all modifications and additions provided by this law.

First final provision is added a third additional provision in the law of the Tax Ordinance, from 19 December 1996, with the following wording: "the third additional provision. Exchange of information in tax matters 1. The Ministry in charge of finance is authorized to provide assistance, with the request of tax authorities of a Member State of the OECD, exclusively for the purpose of providing information regarding the ownership, the administrators and the Andorran companies accounting and non-resident companies which operate in Andorra through a branch, as long as the tax administration requesting the information : in) Guarantees that the information that you can provide will only be used in accordance with the tax administrative procedure of liquidation or sanctioning or within the framework of a criminal process that the request has been motivated, and that tax only will have access to the persons, authorities or the courts of the requesting State that are competent in tax matters or for the pursuit of a tax crime. In any case, it is necessary to require that foreign authorities receiving the information are required to keep a rigorous backup and observe strict confidentiality of the information and the issues they know by reason of his Office.

b) Proves that failed to get the information requested, after having resorted to all means at its disposal.

c) can prove that the information requested is necessary and has significance in the context of a specific tax check procedure opened in relation to a particular taxpayer who is being investigated for tax fraud. In accordance with what has been exposed, the tax administration the applicant must submit the documents, reports and the corresponding tests, so that, in any event, is based and proves to the Ministry in charge of finance based on the evidence of tax fraud.


d) Identifies the society or societies, living in Andorra or Andorra branch, in relation to which the regulated information in this paragraph.

2. The Ministry in charge of finances in any case is not authorized to provide assistance or Exchange information in the following cases: a) When the requested information relates, directly or indirectly, in Bank type data or covered in any way by the secret that protects confidentiality in accordance with Andorran legislation.

b) When the requested information on the accounting of an Andorran society affect a trade secret, industrial management, or professional, or commercial procedures or information the communication of which is contrary to public order.

c) When the Ministry in charge of finance may not be able to obtain the information requested in accordance with the powers to obtain information that you have assigned.

d) if the Ministry in charge of Finance has issued a negative report about the character from the exchange of information requested because it has been confirmed that does not meet the requirements set out in paragraph 1 of this provision or that is applicable on any of the exceptions set out in the previous letters in this section 2.

3. The Ministry in charge of finance, before the grounded decision you decide about the exchange of the information requested, you must make the corresponding technical report about the character from unfair or of the application concerned. The report has to be delivered on the concurrence of the requirements and conditions set out in paragraphs 1 and 2 of this provision and should take account of the allegations that have been presented. In accordance with this process, the Ministry in charge of Finance notifies the legal representatives of the companies affected by the request for information this circumstance, and grants them a procedure of allegations by a period of no less than 15 calendar days, which can make the allegations they deem appropriate on case the transmission of the data. The Ministry in charge of finance dictates the grounded decision after the pending allegations mentioned and notify the representatives of the Andorran companies affected.

Against the resolution of the Ministry in charge of finances can be lodged a resource according to the provisions of the code of the administration. The filing of the appeal does not suspend the execution of the contested act. However, the authority that has to resolve the appeal may suspend the execution of the trip in the event that the implementation can cause damages of difficult or impossible to repair or when it's null acts in its own right. The mentioned decision on suspension should be taken within a maximum period of 10 days.

When the resolution of the Ministry in charge of finances is in favor of the transmission of the data, and this resolution has not been suspended as set forth in the preceding paragraph, the Ministry will send the information to the competent authority of the requesting State. If it happens otherwise, you can only communicate the dispositive part of the resolution, indicating non-concurrence of the requirements set forth in paragraph 1 or the application of the exceptions provided for in paragraph 2.

4. The Ministry responsible for finance holds the right to obtaining and application of the information referred to in paragraph 1 of this article in relation to taxable, necessary to meet the requests for Exchange of information it receives. This right includes also the request for information to government agencies or public records.

5. tax infringement Is the fact that the tax obligation desatengui the request received or do not provide the documentation, data or information requested by the Ministry responsible for finance. This violation will be sanctioned as follows: a) pecuniary Fine of 300 euros, if fails to appear or do not provide the documentation, data or information required within the period established in the first requirement notified to this effect.

b) pecuniary Fine of 1,500 euros, if fails to appear or do not provide the documentation, the data or the required information within the deadline set in the second requirement notified to this effect.

c) proportional pecuniary Fine, a maximum amount of two per cent of the turnover of the offending subject of the calendar year prior to the year in which the infringement has occurred, with a minimum of 10,000 euros and a maximum of 100,000 euros, when has not appeared or has not provided the documentation, data or information required within the period established in the third requirement notified to this effect. In the case of people who do not carry out economic activities, it imposes a penalty for a total of 10,000 euros. However, if before the end of the disciplinary procedure is fully complies with the requirement, the corresponding sanction is of 5,000 euros.

The offence and the sanction covered in this paragraph prescribed three years counted from the end of the term fixed to meet the requirement or from the imposition of the sanction.

6. the system of exchange of information that regulates in this provision does not modify the system that regulates the law 11/2005 of 13 June, on the application of the agreement between the Principality of Andorra and the European Community concerning the establishment of measures equivalent to those provided for in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments.

7. Without prejudice to the provisions of this third additional provision, the Principality of Andorra may sign international agreements that include the exchange of information with countries members and non-members of the OECD, in which case you have to apply the limitations and the specific procedure set out in the agreements mentioned above and in the internal regulations that will eventually develop. These agreements should define the behaviour constituting tax fraud in his case may give rise to exchanges of information. ".

Second final provision is added a fifth transitional provision in the law of the Tax Ordinance, from 19 December 1996, with the following wording: "fifth transitional provision 1. The third additional provision only applies to the requests for information relating to tax fraud that took place in the applicant State after the January 1, 2009. Under no circumstances can process requests relating to events occurring on previous dates.


2. The exchange of information that establishes the third additional provision is not applicable in respect of the country concerned at the time when it comes into force and is applicable, a Convention for the Elimination of double taxation between Andorra and the country mentioned while the Ministry responsible for finance must apply for the applications filed before that date to take a final decision about the Exchange. ".

Third final provision this law will come into force in three months to be published in the official bulletin of the Principality of Andorra.

Casa de la Vall, December 11, 2008, Joan Gabriel i Estany Syndic General Us the co-princes the sancionem and promulguem and let's get the publication in the official bulletin of the Principality of Andorra.

Nicolas Sarkozy Joan Enric Vives Sicília and President of the French Republic and the Bishop of Urgell Co-prince of Andorra Co-prince of Andorra

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