Five keys points to understand the FinCEN Note against BPA

The FinCEN reprisal as a result of Andorran negligence.

1. The letter of August 24th, 2014 addressed to Gilbert Saboya, Minister of Foreign Affairs of Andorra, through which the American authorities severely require Andorran authorities to apply actions -claimed by the MONEYVAL- in the control of cash. They warn Saboya three times, in direct writing of just over one page, that textually cites: “we urge the Andorran government to implement as soon as possible…”, “the U.S. urges you seriously…”, “we urge your government…”. They expose a case of Dutch drug lords who entered 16 million euros in cash to an Andorran bank, which was not Banca Privada de Andorra. Apparently, the Andorran justice filed in 2015 the cause reported by the U.S., whose final consequence was the devastating note from the FinCEN. It is worth mentioning that, at that time, the prosecutor deputy general of the state and current director of the UIFAND- Carles Fiñana- bought a house that belonged to the leader of the drug lords, who was able to run away from a bust in time thanks to a tip.

2. The answer from Gilbert Saboya the 21st of September, one month after the requirement from the U.S. He replied to the American authorities saying: “Andorra has done important progress in their system in order to combat money laundering”.

3. The extract from Anton Smith’s video that emphasizes, in a conference given a few months later from the notification of the 311, that the Andorran authorities had not done what they were asked “the past year we manifested our worry to Andorran authorities through an official report (referring to the 24th sent on August 2014) in order to point out some mistakes identified by Moneyval, regarding the conduct of the system. They have not behaved with the fluidity we expected and that is the reason why we had to finally use the hammer”.

4. The e-mail sent by Anton Smith to his superiors, in May 2015, where he acknowledges that the FinCEN note was against Andorra, not BPA. The e-mail, which was unclassified by the American Department of State, states: “I was referring here to a general demarche that was delivered to the Andorran authorities in August of last year (the letter from August 24th), triggered by concerns that led to the eventual 311 action”. Anton Smith was the Economic Attaché of the US embassy in Spain and Andorra.

5. The audio in which Celestino Barroso threatens, Joan Pau Miquel -CEO of Banca Privada de Andorra- in June 2014 “to kill off the bank… there are Americans willing to take responsibility”. Celestino Barroso was the Chief Police Inspector and Interior Attaché of the Spanish Embassy in Andorra.

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