Spain: Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

February 16, 2007

Summary

This report examines the Observance of Standards and Codes on the Financial Action Task Force (FATF) Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Spain. The findings reveal that the Spanish legal framework for combating money laundering and terrorist financing is generally comprehensive. Money laundering offences are broad in scope and easy to apply, according to Spanish prosecutors. Terrorist financing offences are broadly satisfactory, although they do not appear to cover acts of an individual terrorist and collection of funds under certain circumstances.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), CFT measure, CFT obligation, CFT regime, CFT requirement, CFT supervision, CFT system, CR, due diligence, ISCR, Legal support in revenue administration, Money laundering, money laundering offence, North Africa, offence, prosecution authorities, regime, SEPBLAC, Spain, Terrorism financing

Pages:
25
Volume:
2007
DOI:
https://doi.org/10.5089/9781451812268.002
Issue:
070
Series:
Country Report No. 2007/070
Stock No:
1ESPEA2007001
ISBN:
9781451812268
ISSN:
1934-7685

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