Andorra bank accused of helping Chinese launder money had 923 suspect accounts


Andorra bank accused of helping Chinese launder money had 923 suspect accounts

The tiny European state of Andorra says a study shows one of its banks had 923 accounts suspected of money laundering.
Andorra seized Banca Privada d'Andorra last year after it was accused by the US of helping groups from China, Russia and Venezuela launder money.


The study by consultants PwC said the 923 accounts represented 3 percent of the 29,200 customers and about 1 billion euros in business volume, or 19 percent of its total.
Andorran financial authorities say that based on the report released late Tuesday, more than 90 percent of BPA's clients are fit to be transferred to the newly-created Vall bank.

They said BPA senior management and majority shareholders remain under investigation.

Located between Spain and France, Andorra has 85,000 residents.—AP
Andorra bank accused of helping Chinese launder money had 923 suspect accounts Andorra bank accused of helping Chinese launder money had 923 suspect accounts Reviewed by Ajit Kumar on 8:52 PM Rating: 5

No comments:

Powered by Blogger.