The Andorran Executive has given the green light this Monday to the Principality's incorporation into the Council of Europe Convention on the laundering, discovery, seizure and confiscation of the proceeds of crime and the financing of terrorism, known as the Warsaw Convention.
This treaty, adopted on May 3, 2005, aims to promote, facilitate and strengthen cooperation between the states parties to ensure the identification, tracing, blocking, seizure and confiscation of funds linked to organized crime and the financing of terrorism, both nationally and internationally, as the Government explained in a statement.
With this accession, Andorra will be able to consolidate its legal framework and reinforce the country's commitment to European and international standards in the prevention and fight against money laundering, corruption and the financing of terrorism.
The Warsaw Convention expands and updates the system established by the Council of Europe Convention of 1990, which Andorra already signed and ratified, and which entered into force in the Andorran legal system on November 1, 1999.
The adoption of this new instrument responds to the need to adapt international cooperation mechanisms to new criminal phenomena, in line with the recommendations and evaluation procedures of the Financial Action Task Force (FATF) and the Committee of Experts on the Evaluation of Anti-Money Laundering and Terrorist Financing Measures (MONEYVAL).
Cooperation Mechanisms
The text establishes that the Convention applies to the prevention of money laundering, the discovery, seizure and confiscation of the proceeds of crime, as well as the investigation and classification of offenses related to the financing of terrorism.
Likewise, it establishes mechanisms for collaboration between competent authorities, including the exchange of information between financial intelligence units, the use of special investigation techniques, and the possibility of developing coordinated actions at the international level.
Fit within the Andorran Legal System
In the context of Andorra, the legal system already contemplates the offenses of money laundering and financing of terrorism in the Penal Code.
In the ongoing reform of the Penal Code, the Ministry of Justice and Interior has also proposed introducing criminal liability for legal persons for certain offenses, a fact that "reinforces" the country's alignment with the Convention's standards.
Internal Mechanisms and Enforcement
The application of the Convention also requires adequate internal mechanisms for the management of assets subject to provisional measures or confiscation, as well as providing for the possibility of return to their legitimate owners, in accordance with the provisions set out in the international text.
The Andorran authority responsible for processing international cooperation requests will be the ministry responsible for Justice, while the competent financial intelligence unit will be the Financial Intelligence Unit of Andorra (UIFAND).
Andorra's accession to the Warsaw Convention must be submitted for approval to the Consell General (Parliament), as it is an international legal instrument that affects matters related to internal security, judicial cooperation, and requires the adoption of legislative measures for its full implementation.