CIVIL PENALTIES AND CRIMINAL OFFENCES

Anti-Money Laundering and Financial Sanctions Regulations distinguishes different levels of severity: low, medium and high sanctions. Not only regulated entities by Act Nº. 10/2010 may be sanctioned. Also their Director Board may be responsible when the criminal activity had been related with their professional behaviour.

 

Civil penalties and criminal offences may result in disqualification to hold similar professional positions, economic sanctions greater than 1.5 million of euros or the withdrawal of license to operate (only if it is a must for the company).

 

With the last modification of the Spanish Penal Laws, it is important to point that companies have penal responsibility of criminal activities related to Money Laundering.

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