The Money Laundering and Financing of Terrorism Prevention Law

New requirements have been introduced by the September 2018 Law reform (The Money Laundering and Financing of Terrorism Prevention Law), many institutions and specific companies are affected according to certain conditions, it requires to submit a lot of records and documentation to comply with the law, specific cases have to be reported to the SEPBLACoffice, the financial intelligence unit in Spain.

An internal control mechanism to meet the requirements of this law must be implemented by both official institutions and particular enterprises reporting to the SEPBLAC.

Fines for non-compliance with this law are set out in Articles 56, 57 and 58.

What is the SEPBLAC cloud service?

Our cloud solution willallow you to comply with the money laundering prevention law in an automated way, it makes easy to comply with the money laundering and financing of terrorism prevention laws.

You will be able to easily manage the required internal control, adapted from any device due to the way this solution is implemented


How does it work?

The SEPBLAC Flash Data Cloud Service offers first and foremost a simple automated internal assessment, in accordance with the requirements of the Money Laundering Prevention Law, if a risk is found and if necessary, additional information will be required to consult and communicate with SEPBLAC.

This short 100% automated evaluation: will save you time, will make it easier to consult the risk according to the requirements of the law and proceed with the assessment and process with SEPBLAC if necessary.

More information…

Try a completely free demo, as shown in other parts of the website, in Flash Data we work to develop all types of technology, the SEPBLAC cloud service is already being used by institutions such as Barcelona Municipal Housing Board for housing management.
You can see more details in “News” by clicking here.