Geijo & Associates is pleased to announce that we have published the Anti-Money Laundering Laws and Regulations 2021 Guide for Spain in partnership with ICLG.
This publication covers all AML issues including criminal enforcement, regulatory and administrative enforcement and requirements for financial institutions and other designated businesses.
Areas of the guide:
The 4 areas covered for each of the 28 jurisdictions are:
1) The crime of Money Laundering and Criminal Enforcement
2) Anti-Money Laundering Regulatory and Administrative Requirements and Enforcement
3) Anti-Money Laundering Requirements for Financial Institutions and Other Designated Business
Geijo & Associates and ICLG
This is the 4th annual edition of the ICLG Anti-Money Laundering guide and the second time Geijo & Associates collaborates with ICLG, after contributing last January to the ICLG Business Crime Guide for 2021.
In this guide, we discuss how the pandemic has made COVID-related fraud and cybercrime activities rise while other types of financial crime such as drug trafficking, terrorism and fraud have persisted. Thus, 2021 was another active year for AMNL enforcement, legislation and compliance efforts, which a number of high-profile money laundering prosecutions and administrative enforcement actions.
Anti-Money Laundering activities in 2021 in Spain
In the chapter about Spain, we provide information about the legal authority to prosecute Money-Laundering in the country. We also discuss what has to be proven to establish money laundering as a criminal offence. It can be also found information about maximum penalties, government authorities responsibilities for investigation and much more. These are some of the questions you will find an answer to in the chapter dedicated to Spain:
- What must be proven by the government to establish money laundering as a criminal offence?
- Is there extraterritorial jurisdiction for the crime of money laundering?
- What are the maximum penalties?
- What are the legal authorities for imposing anti-money laundering requirements on financial institutions?
- What financial institutions are subject to anti-money laundering requirements?
- How is the AML situation for cryptocurrency, large currency transactions, large cash transactions, cross-border transactions?
The content can be read in this link and a copy of the report can be downloaded from ICLG (it requires a free account).