Anti-Money Laundering Newsletter - July 2021
España -
Main new legislation and news in relation to the Prevention of Money Laundering and Terrorist Financing (AML/TF) - 2Q21.
Sepblac publishes its 2020 activity figures: inspections were down/fall by 10%
On April 30, 2021, Sepblac published data on the activities carried out in 2020, in the exercise of its powers as the Financial Intelligence Unit (FIU), as supervisory authority and as the body entrusted with maintaining the Centralized Banking Account Register.
Legislation and publications of official bodies
- Entry into force of European regulation on controls of cash entering or leaving the EU
- Iberpay´s remote identification procedure, pending review by Sepblac
- Moneyval’s annual report emphasizes that its members need to improve their AML/CFT practices
- The European Central Bank (ECB) takes over supervision of systemic investment firms
- FinCEN issues memorandum on national anti-money laundering and combating terrorist financing priorities
- The ECB issues its draft guide to fit and proper assessments for senior officers of credit institutions
- The Council of the EU approves conclusions on the impact of the COVID-19 pandemic on internal security and the terrorist threat
- Documents, including Sepblac filings, can now be filed with the Bank of Spain through its electronic register
Risk jurisdictions in relation to AML/TF
- Ghana removed from the list of high risk jurisdictions for AML/CFT purposes
International sanctions regime
- The Council of the EU extends sanctions against the Syrian regime for another year
Sanctions and judgments
- The Supreme Court rules that the police can access certain bank account information without a court warrant
- Financial institutions will have to identify the beneficial owners of securities accounts segregated from omnibus accounts
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