Police in Spain have arrested 10 people as part of an operation targeting a marijuana-linked network of money launderers. Authorities also seized 21 properties, over €81,000 in cash, four cars, 17 bank accounts and 1,980 marijuana plants.
The Financial Action Task Force published a follow-up assessment examining Spain’s efforts to improve the effectiveness of its anti-money laundering and counterterrorist financing regime with regard to preventative measures and financial sanctions targeting proliferation financing.
U.S. money-mule schemes have spiked during COVID-19, IRS seeks help in tracking Monero transactions, and more, in the midweek roundup.
Publication of Swiss report into AML lapses at Credit Suisse delayed, Italian regulators allow ING to onboard domestic clients after 18-month pause, and more, in the weekly roundup.
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.
The government of Spain imposed two monetary penalties against the Lisbon, Portugal financial institution that total approximately 1.1 million Euros. The penalties, 150,000 Euros and 960,000 Euros, are due to breaches of Law 10/2010 on the Prevention of Money Laundering and Financing of Terrorism.
|Compliant : 28||High : 1|
|Largely Compliant : 10||Substantial : 9|
|Partially Compliant : 2||Moderate : 1|
|Non-Compliant : 0||Low : 0|
|Rank : 100/125|
|Score : 4.42/10|
|Rank : 30/180|
|Score : 62/100|
|Rank : 66/133|
|Score : 44/100|