Notice of Finding that Banca Privada d’Andorra is a Financial Institution of Primary Money Laundering Concern

(BILLINGCODE: 4810-02)
DEPARTMENT OF THE TREASURY
Notice of Finding That Banca Privada d’Andorra Is a Financial Institution of Primary Money Laundering Concern AGENCY: Financial Crimes Enforcement Network (“FinCEN”), Treasury. ACTION: Notice of Finding. SUMMARY: This document provides notice that, pursuant to the authority contained in the USA PATRIOT Act, the Director of FinCEN found on March 6, 2015 that reasonable grounds exist for concluding that Banca Privada d’Andorra (“BPA”) is a financial institution operating outside of the United States of primary money laundering concern. DATES: The finding referred to in this notice was effective as March 6, 2015. FOR FURTHER INFORMATION CONTACT: FinCEN, (800) 949-2732. SUPPLEMENTARY INFORMATION:
I. Statutory Provisions
On October 26, 2001, the President signed into law the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (the “USA PATRIOT Act”), Public Law 107-56. Title III of the USA PATRIOT Act amends the anti-money laundering provisions of the Bank Secrecy Act (“BSA”), codified at 12 U.S.C. 1829b, 12 U.S.C 1951-1959, and 31 U.S.C. 5311-5314, 5316-5332, to promote the prevention, detection, and prosecution of international money laundering and the financing of terrorism. Regulations implementing the BSA appear at 31 CFR Chapter X.
Section 311 of the USA PATRIOT Act (“Section 311”), codified at 31 U.S.C.
5318A, grants the Secretary of the Treasury (“the Secretary”) the authority, upon finding