Spain’s progress in strengthening measures to tackle money laundering and terrorist financing

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March 20 2018

Spain reported back on the progress it has made in strengthening the framework to tackle money laundering and terrorist financing since the 2014 Mutual Evaluation. As a result of this progress, the FATF has re-rated the country on 3 Recommendations. Spain is now rated Compliant on 28 of the 40 Recommendations.

Spain has been in a regular follow-up process following the adoption of its mutual evaluation report, which assessed the effectiveness of the country’s anti-money laundering and counter-terrorist financing (AML/CFT) measures and their compliance with the FATF Recommendations. In line with the FATF Procedures for mutual evaluations, Spain reported back to the FATF on the progress it has made to strengthen its AML/CFT framework, in particular the criminalisation of terrorist financing taking into account the new requirements on the criminalisation of foreign terrorist fighters.