A recent report by anti-corruption expert Martin Kreutner highlights the vulnerabilities in Andorra’s anti-corruption and anti-money laundering (AML) measures. The report warns that weak regulations in the Principality could threaten the stability of the EU financial system, describing Andorra as a financial “Trojan Horse.”

Kreutner’s analysis also examines the infamous BPA case, emphasizing that the government’s mismanagement of the situation “has the lasting potential to cast a shadow over the Andorran authorities and their ability or willingness to effectively manage its banking sector and AML mechanisms.”

In recent years, Andorra has been shaken by a series of alleged and adjudicated financial scandals. According to the report, addressing the shortcomings in the country’s anti-corruption and AML framework is vital to Andorra’s prospects for further EU integration. As the country heads into elections, prioritizing stronger anti-corruption and AML regulations should be central to its agenda.