Spain’s National Court approved the extradition of Joseph James O., a 23-year-old British man, to the United States to face 14 criminal charges for conspiring to launder money, hacking, and other cyber offenses.
Sepblac, Spain’s financial intelligence unit, published its annual report for 2020-2021, containing statistics and supervisory activities undertaken during the period as part of anti-money laundering and counterterrorist financing efforts.
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Spanish AML Fines Dropped in 2022, But Targeted New Players
AML penalties dropped precipitously in Spain last year, data supplied to ACAMS moneylaundering.com by the country’s primary AML supervisor shows.
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The Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offences fined Banco Popular Español S.A.U., which is now part of Banco Santander S.A., €1,056,000 for violating anti-money laundering and counterterrorist financing norms.
The Supreme Court of Spain imposed a fine of 1 million on Banco Santander for anti-money laundering deficiencies that occurred at Banco Espanol de Credito (Banesto), S.A. between 2007 and 2011. Santander is the universal successor for Banesto.
|Compliant : 28||High : 1|
|Largely Compliant : 10||Substantial : 9|
|Partially Compliant : 2||Moderate : 1|
|Non-Compliant : 0||Low : 0|
Spain's technical compliance was re-rated in a March 20, 2018 follow-up report. FATF re-rated the effectiveness of Spain's AML/CTF framework in a Dec. 4, 2019 follow-up assessment.
|Rank : 129/141|
|Score : 3.66/10|
|Rank : 30/180|
|Score : 62/100|
|Rank : 66/133|
|Score : 44/100|