- Spain obtains a high score in 10 of the 11 indicators that analyzes the effectiveness of the measures implemented, which positions it as one of the best qualified countries in the world in its prevention and prosecution systems against money laundering and terrorist financing
- The report highlights the application of prevention measures by the private sector and the high degree of inter-institutional coordination in Spain
The International Financial Action Task Force (FATF) has published the fifth-year follow-up evaluation report that analyzes the effectiveness of the Spanish system of prevention and prosecution against money laundering and terrorist financing.
Spain obtains a high score in 10 of the 11 indicators that analyze the effectiveness of the measures implemented, which places it as one of the countries with a safer system of prevention of money laundering. The report indicates that the rules are properly applied in Spain and enjoy an attractive and secure financial system for investors
In the last revision, Spain improved the indicator relative to the appropriate application of preventive measures by financial and non-financial entities from moderate to substantial. The report highlights the knowledge of the risks and the adoption of appropriate measures by the private sector, the dissemination of public institutions on these risks of money laundering and terrorist financing and the supervision of the authorities in this area.
The FATF also improves the rating of Spain in the indicator related to the application of measures to comply with United Nations resolutions on financial sanctions linked to the proliferation of weapons of mass destruction. This section highlights the establishment and development of inter-institutional coordination mechanisms and the ability to identify and prevent operations aimed at the evasion of international financial sanctions on the proliferation of weapons and their financing.
Finally, although improvements are observed, Spain maintains a moderate rating in the indicator regarding the immediate application of United Nations resolutions on freezing of funds to lists of international terrorists.