FINANCIAL MONITORING IN SPAIN

According to the legislation in force in Spain, credit organizations are obliged to send monthly to the Central Bank of Spain information on transactions, regarding which there are reasons to believe that they are related to the legalization (laundering) of criminal proceeds.

in Spain, the Financial Department of the Civil Guard, the General Directorate of the Financial and Tax Inspection, and the Central National Bureau under the General Secretariat of the Criminal Police are engaged in activities aimed at combating the legalization (laundering) of criminal proceeds.

This list is sent to the Spanish Association of Banks and the Spanish Confederation of Savings Banks for use in work, and includes, in particular, such features as:

• repeated operations of individuals and legal entities regarding making deposits to their accounts and withdrawing cash amounts exceeding the equivalent of 8,000 dollars USA;
• receipt by individuals and legal entities of bank checks and promissory notes for monetary amounts exceeding the equivalent of 8,000 dollars. USA for the operation;
• repeated exchange by individuals and legal entities of small currency notes for high-value bills;
• repeated exchange of large sums in national currency for foreign currency and vice versa;
• transfer of large sums of money to countries with a favorable tax regime through small or little-known banks.

A bank lawyer in Spain is one of our main job profiles. Our bank lawyer will advise you on the following issues

• How much money can be deposited in a bank in Spain?
• What to do when the bank requested documents about the origin of funds?
• What documents confirm the origin of funds?
• Where to get documents confirming the origin of funds?
• What to do if there are not enough documents about the origin of the funds?
• How to withdraw (return) blocked funds in a Polish bank?
• How to close a bank account?
• How to legally bypass financial monitoring in Spain?
• What to do if there is no source of funds?
• How to pass financial monitoring in a Spanish bank?