In December 2021, Law 37/2021 of 16 December, amending the Prevention and Combating of Money or Securities Laundering and Terrorism Financing Law 14/2017 of 22 June was passed. Among other matters, it created the Register of Financial and Similar Accounts, in which banking, payment and electronic money institutions operating in the Principality of Andorra must declare the identification details of the holders or beneficial owners of payment accounts, bank accounts identified with an IBAN number, and safe deposit box rental agreements.
Subsequently, in February 2024, Decree 64/2024 of 14 February 2024 was published, which approved the Regulations of the Register of Financial and Similar Accounts, run by the ministry responsible for finance, which mainly regulates:
a) The scope of the requirements for information in the register data.
b) The terms and frequency of filing with the register.
c) The competent authorities that have access to the information in the register data.
d) The scope of the requirements for the competent authorities to access the information in the register data.