Spain’s financial intelligence unit, the Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offences, published a factsheet summarizing its activities during 2019 and 2020, which includes data about inspections of financial institutions.
The Japanese Ministry of Finance announced the date of entry into force of a new tax convention with the government of Spain for the elimination of double taxation on income and the prevention of tax evasion and avoidance.
Spanish authorities recently imposed their country’s largest AML penalty to date, but declined to identify the targeted financial institution. (Shutterstock)
Credit Suisse ignored red flags, Lithuanian payments processor under investigation, and more, in the midweek 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 : 129/141|
|Score : 3.66/10|
|Rank : 30/180|
|Score : 62/100|
|Rank : 66/133|
|Score : 44/100|