The body of the Treasury to combat financial crime on Friday announced the lifting of the money laundering charges that were filed in March 2015 against Andorran bank BPA.
the operation of the Banca Privada d’Andorra (BPA) “no longer represents a threat to the US financial system,” said FinCEN (financial Crimes Enforcement Network) in a statement.
“the measures taken by the Andorran authorities provide sufficient protection to the US financial system to any risk of money laundering by BPA,” he said.
“Consequently, FinCEN concluded that BPA does not represent a major source of concern to money laundering “.
After that decision, the agency lifted all restrictions on the private bank and against Banc Vall, the entity created by the authorities Andorra to concentrate BPA non-toxic assets.
the FinCEN was charged in March 2015 to BPA, fourth bank in this tiny principality in the Pyrenees nestled between Spain and France, have facilitated the laundering of thousands of millions of dollars from the Russian and Chinese mafias and the Venezuelan state oil company PDVSA.
financial Andorran authorities then intervened the bank and one of its top executives, Joan Pau Miquel Prats, he was arrested .
then they created an Agency for State Restructuring and Resolution Repossessed (RAEB), which separated the bad assets from healthy. The operation resulted in the placement of the latter in Vall Banc and the sale of this new entity.
At the end of 2013, BPA administered 7,100 million euros of assets in the world.
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