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Spanish anti-money laundering regulators meted out a record €57 million of AML penalties last year, doubling the €28 million they assessed against banks, payment services providers and other financial institutions during their previous record annual tally in 2019. Data obtained and reviewed by ACAMS moneylaundering.com shows that despite a recent decrease in onsite inspections, the total value of AML-related penalties imposed by Sepblac and other Spanish regulators in 2023 far exceeded those of previous years, including the mere €3.3 million in fines they issued in 2022. A Spanish official told moneylaundering.com on condition of anonymity that rather than showing that...