European and Spanish regulations aim to combat fraud and money laundering to prevent illicit money from gaining legal appearance. This has been articulated especially through the Anti-Money Laundering Prevention Plan, which contains multiple measures that companies and businesses must adopt.
Who is required to comply with the regulations?
There are two categories of obligated entities:
📌 Financial obligated entities:
- Banks
- Insurance companies
- Investment firms
- Fund managers
- Money transfer and currency exchange services
- Credit card issuers
📌 Non-financial obligated entities:
- Real estate agencies
- Account auditors
- Accountants and tax advisors
- Notaries and registrars
- Lawyers and solicitors
- Jewellers
- Art dealers
- Foundations and associations
What measures must be implemented?
✅ Preliminary risk assessment
✅ Appointment of a representative before SEPBLAC
✅ Establishment of the Internal Control Body (OCIC), if required
✅ Development of the Anti-Money Laundering Procedures Manual
✅ Implementation of the Annual Training Plan (if applicable)
✅ External expert audit and annual review
✅ Response to inspections and requests from SEPBLAC
✅ Ongoing advisory services on anti-money laundering and counter-terrorism financing
Benefits of the Plan: Positive Impact
✔️ Prevents administrative sanctions and criminal penalties
✔️ Enhances corporate image and reputation
✔️ Strengthens ethical business practices
✔️ Increases trust among suppliers and clients
✔️ Facilitates partnerships with multinational companies and public administrations
✔️ Ensures regulatory compliance