Spain’s measures to combat money laundering and terrorist financing

Mutual Evaluation Report Spain - 2014

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FATF has completed its assessment of Spain’s anti-money laundering and counter-terrorist financing (AML/CFT) system. 

Spain has a strong system to combat money laundering and terrorist financing, with up-to-date laws and regulations and sound institutions for combating these threats.  Certain key areas need improvements, such as the implementation of targeted financial sanctions to allow the freezing of terrorism-related assets and the terms of imprisonment for money laundering convictions, which are currently too low.    

The assessment of Spain is the first assessment to be completed using the 2012 FATF Recommendations, and the first country to undergo a comprehensive review of the effectiveness of its measures to combat money laundering and terrorist financing. 

The mutual evaluation report of Spain sets out how well Spain has implemented the  technical requirements of the FATF Recommendations and how effective its AML/CFT system is.  The report presents the key findings of the assessment team and the priority actions for Spain to improve its AML/CFT system.

Download the report: 

Full report including executive summary and ratings tables  
‌Executive summary

Effectiveness and technical compliance: 
2. National AML/CFT Policies and Co-ordination
3. Legal Systems and Operational Issues
4. Terrorist Financing and Financing of Proliferation
5. Preventive Measures
6. Supervision  
7. Legal Persons and Arrangements  ‌
8. International Co-operation

Key findings, ratings and priority actions:

More information: 

Press release: 'Spain has strong measures to combat money laundering and terrorist financing but improvements needed, says FATF'

 

FATF Recommendations

FATF Methodology for assessing technical compliance with the FATF Recommendations and the Effectiveness of AML/CFT systems


Earlier reports on Spain's measures to combat money laundering and terrorist financing