Prevention of money laundering

Prevention of money laundering

The prevention of money laundering prevents the use of illegally obtained capital. Money laundering consists of all those procedures aimed at introducing into the market money that comes from illegal activities as money of a legal nature. In particular, what suspected criminals seek is to obtain a legal motive in order to be able to justify where their wealth comes from.

Money affected by money laundering can come from many different illegal activities. Such illegal activities may include tax fraud, terrorism, the sale of drugs, prostitution, the sale of weapons or extortion, among others.

The basic criminal offence of money laundering is contained in article 301 of the Criminal Code. Money laundering is therefore considered to be all acts aimed at converting, acquiring or transmitting property in the knowledge that they are the proceeds of a serious crime. As well as concealing and disguising the origin of such wealth with knowledge of its illicit origin.

Our team resolves all the questions, doubts or problems that may arise in addition to the corresponding legal advice in relation to the Prevention of Money Laundering. As well as compliance with Law 10/2010 on the Prevention of Money Laundering and the Financing of Terrorism and Royal Decree 925/1995 approving the Regulations of Law 19/1993 of 28 December, which includes measures focused on the prevention of this crime.

At Letslaw we carry out actions related to the Prevention of Money Laundering such as the following:

  • Verification, monitoring and control actions.
  • Implementation of measures for the prevention of money laundering.
  • Analysis of compliance with regulations on the prevention of money laundering.
  • Support in filling out the documentation to be provided to the Executive Service of the
  • Spanish Commission for the Prevention of Money Laundering and Monetary Offences (SEPBLAC).
  • Specific advice on the prevention of money laundering.
  • Advice on the preparation of a Manual for the Prevention of Money Laundering.
  • Legal representation in legal proceedings related to money laundering.
  • Review of compliance models that have already been implemented.