BANKING REGULATIONS FOR FINANCIAL CRIME IN SPAIN TIGHTENED WITH NEW DATABASE

Strengthening Anti-Money Laundering and Terrorist Financing Measures in Spain

The Banco de España has taken a significant step towards enhancing transparency and facilitating compliance with financial crime prevention regulations in Spain by launching an online financial legislation database. This move aims to strengthen anti-money laundering and terrorist financing measures, providing a valuable resource for financial institutions, regulatory bodies, and other stakeholders.

Key Features of the Database

• Comprehensive Coverage: The database provides access to all applicable national, regional, and EU-level financial regulations in their consolidated version, incorporating amendments made over time.
• Easy Navigation: Users can navigate the database through a chronological index organized by year or an analytical index grouped by topic.
• Explanatory Notes and References: Each regulation is accompanied by explanatory notes, references to related standards, and links to previous versions when available.
• Help Menu: A “Help” menu is also available for additional guidance on using the platform.

Benefits of the Database

• Enhanced Transparency: The database provides a centralized and easily accessible repository of financial legislation, promoting transparency and facilitating compliance with financial crime prevention regulations in Spain.
• Improved Compliance: Financial institutions, regulatory bodies, and other stakeholders can stay up-to-date with the latest laws and guidelines, ensuring effective compliance with financial crime prevention regulations.
• Robust Framework for Combating Financial Crime: The database serves as a valuable resource for combating financial crime in Spain, promoting a more robust and effective framework for preventing and detecting financial crimes.