identity documentsnationalitypassport
national identity cardpassportnamephotographidentity documents
regulation form and number,business addressnames and regulation documents
Documento nacional de identidad (DNI) or carné de identidad
Spanish Law 59/2003, of December 19th, on electronic signature; REGULATION (EU) No 910/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL; Article: The electronic signature in Spain
2010
2010 (pending approval of the new Royal Decree of Law 10/2010)
SEPBLAC: (the Executive Service of the Commission for Monitoring Exchange Control Offences)
www.sepblac.com
SEPBLAC: (the Executive Service of the Commission for Monitoring Exchange Control Offences)
www.sepblac.com
www.sepblac.com
SEPBLAC Reports and Publications
Yes
Until the issuing of the new Royal Decree for Law 10/2010.
Last Mutual Report FATF/GAFI (2006
Yes
Yes - one-off transactions (single or linked) under EUR3,000.
firms should obtain a national identity document, permission of impeachment sent by the Ministry of Justice, passport or
government issued document which includes the customer's full name and photograph. Additionally, firms must verify identification
documents of all authorised persons of the account.
firms should obtain the following: , regulation form and number, business address and professional activity.
Additionally, names and regulation documents of all Attorneys should be obtained.
The law determines that firms may consider it appropriate to verify the identity of appropriate beneficial owners. Where a principal owner is another corporate entity or trust, the firm should take measures to look behind that company or trust and establish the identities of its beneficial owners or trustees. The firm will then judge which of the beneficial owners exercise effective control, and whose identities should therefore be verified.
The law determines that firms will require additional measures of identification for certain business transactions, including private banking, correspondent banking, on-line and telephone banking and currency exchanges. Enhanced due diligence must be applied for some particular clients and products. Detailed requirements for these activities are detailed in Law 10/2010, Section 3, Article 11: in general terms, and Article 16: for products and transactions where anonymous activity is possible.
Law 10/2010, Articles 14 and 15 detail the due diligence and monitoring requirements for PEPs.
Firms should take into account the greater potential for money laundering in a correspondent business relationship. Firms must send an AML questionnaire to their correspondent banks to verify that these banks have measures to control money laundering. Law 10/2010 Article 13 details the requirements for correspondent banking relationships.
Law 10/2010 Article 13 details the requirements for correspondent banking relationships. In particular, point 2 states that “financial entities
do not set up relations or correspondent with shell banks”.
Firms should take account of the greater potential for money laundering in non face-to-face situations. Where a customer approaches a firm
remotely (by post, telephone or over the internet), the firm should carry out non face-to-face verification, either electronically, or by reference
to identification documents. Requirements for non face-to-face transactions and/or relationships are detailed in Law 10/2010, Article 12.
SEPBLAC: (the Executive Service of the Commission for Monitoring Exchange Control Offences)
www.sepblac.com
There are two different types of reporting in Spain: Systematic Reporting and Suspicious Transaction Report.
Article 17 of Law 10/2010 states that, the subject will review transactions or operations regardless of the amount.
Penalties for non compliance with Law 10/2010 requirements are detailed on Chapter VIII, Articles 50, 51, 52, 53, 54 and 55, and Sanctions are detailed from article 56, 57 and 58.
Yes. Spanish Law 10/2010 has widened the scope of industries and activities to be monitored. All entities which have a large number of daily transactions are requested to use automated Suspicious Transaction monitoring technology. Article 17 of Law 10/20120 stated that accurate automated systems must be set up but adapted to the specific industry and Money Laundering risk. For these reasons, it was mandatory for industries such as finance, insurance and online gambling to have automated systems.
Law 10/2010 Article 19 details the requirement for injunctive enforcement.
aser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the pro
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SEPBLAC
2014
face-to-face verificationidentification documents face-to-face transactions
compulsory at 14,
https://en.wikipedia.org/wiki/Identity_document
No
Yes
Yes
SEPBLAC
Yes
Yes
EUR 3,000.
3275
There are no critical restrictions.
Yes in accordance with Articles 3 and 26.
Summary of law
Spain’s e-signature law is modeled after the EU Directive on Electronic Signatures. It is considered a two-tier jurisdiction because it gives digital signatures the same status as handwritten signatures but also recognizes simple electronic signatures as legal and enforceable. Countries that follow this model give companies the opportunity to select different forms of signatures and customize their business processes based on the form that is most convenient and appropriate for each use case.
It is not necessary for the parties to agree on the use of electronic means for signing such agreements. As long as the recipient accepts the terms and conditions of the agreement by clicking the “I agree” button or sends an email, the agreement should be considered enforceable and such acceptance will be admissible as evidence in court. Note that public authorities may establish additional conditions to impose electronic dates on electronic documents as a means to verify the time that action has been made.
Law 19/1993 regarding AML. (in force until 30 Mar 2010)
SEPBLAC: (the Executive Service of the Commission for Monitoring Exchange Control Offences)
Yes - SEPBLAC has been leading work to embed a risk based approach into AML controls, both in terms of firms' legal obligations and their
practical implementation. Law 10/2010 reinforces this approach by enlarging the range of industries and activities affected by the updated
regulation.
Copies should be certified by an appropriate person, for example an employee of the commercial office.
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