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Regulatory Compliance

Regulatory Compliance: PMLFT

Associations, foundations and non-profit organizations as subjects to the obligation of Prevention of Money Laundering and Financing of Terrorism (PMLFT).

Advisory Department
23/05/2018
Regulatory Compliance

Associations and non-profit organizations are widely implemented in our society. These entities are characterized by showing an impeccable image, receiving economic contributions from diverse sources, a presence and activity which may be transnational and by being submitted to control and supervision thresholds that have historically been lax.

Due to the above, a numerous quantity of legal regulation has been enacted on the international sphere, including associations and non-profit organizations within the framework of the control of the prevention of money laundering and financing of terrorism.

In Andorra, the Law 14/2017, of 22 June, on the prevention and fight against money or value laundering and financing of terrorism included those entities as liable subjects, imposing on them a series of obligations to fulfill.