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