SEPBLACServicio Ejecutivo de la Comisión de Prevención del Blanqueo de Capitales e Infracciones Monetarias (Executive Service of the Commission for Monitoring Exchange Control Offences)
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Spain has addressed two noted deficiencies: in 2016, SEPBLAC received a nearly 29 percent budget increase in order to increase personnel from 54 to 79 employees; and in June 2017, the new EU Funds Transfer Regulation will become effective in Spain.
Sepblac took action during 1989 on 1,530 cases on various fronts.(136) In the matter of international business transactions, Sepblac verified the fulfillment of requirements of enterprises owned by foreign shareholders.
Sepblac also investigated, among other activities, suspicious dealings in sectors such as jewelry and precious metals, the importation of vehicles, contraband tobacco, hotel businesses, the industry of information technology and products, value added tax fraud, and casinos.(139)
The second organisation is SEPBLAC (the Executive Service of the Commission for the Prevention of Money Laundering), Spain's financial intelligence unit.
Law 19/1993 and RD 925/1995 established The Executive Service of the Commission for the Prevention of Money Laundering (SEPBLAC), to act as Spain's FIU.