Access to Domestic Law Enforcement
Spain will continue its commitment to ensuring that financial intelligence unit, law enforcement agencies and tax agency have full and effective access to beneficial ownership information for companies and other legal entities registered in Spain.
Themes: Beneficial ownership
Last updated: December 2020
Concrete: Somewhat Concrete | New: Not New | Ambitious: Somewhat Ambitious
CTL software update - 6 July 2020
The transposition of the IV and V European Anti-Money Laundering Directives are being introduced into a new law
FATF Assessment of Spain (December 2019)
Sepblac is Spain’s Financial Intelligence Unit
Commitment 2 as outlined by the Spanish Government - BDTR.
The Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offences (Sepblac, from its initials in Spanish) states that the CTL software allows banks, savings banks, cooperative banks and branches in Spain of foreign credit institutions to comply with the obligations of suspicious transactions reporting and cooperation with the Commission for the Prevention of Money Laundering and Monetary Offences (CPMLMO) referred to in articles 18 and 21 of Law 10/2010 of 28 April on the prevention of money laundering and terrorist financing. Transposition of Directives V and VI are still pending, but the new Law is in process.
Updated: October 31, 2020
The Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offences (Sepblac) acts as the Financial Intelligence Unit and the Supervisory Authority in relation to the prevention of money laundering and terrorist financing. According to the 10/2010 Law of April 28, this body collects Beneficial Owners information and following the Summit Commitments, this information is shared with the security forces and bodies (National Police, Civil Guard and local police), the Special Anti-drug and Anti-Corruption and Organized Crime Prosecutors, the Customs Surveillance Service who have digital login details to the BO database. As it is clear from the positive FATF assessment of 2019, this body continues to carry out these activities of domestic law enforcement for the prevention of money laundering and terrorist financing successfully.
Updated: April 30, 2020
No change since 2017