At Summons Abogados we are lawyers specialised in anti-money laundering and counter terrorist financing (known as AML/CTF). We defend clients in matters related to money laundering both administratively and in court. As lawyers specialised in anti-money laundering and terrorist financing, we are fully aware of how the market works and we are direct interlocutors with the Bank of Spain.
Our experience and training have positioned us as external experts in the prevention of money laundering registered with the Executive Service of the Commission for the Prevention of Money Laundering and Monetary Infrastructures (SEPBLAC). Furthermore, in addition to our relationship with the Spanish supervisory body on AML/CTF, we contribute our academic experience as lecturers at various universities. Our lawyers prepare and lead the independent external expert reports required by Law 10/2010.
As lawyers specialised in anti-money laundering and counter terrorist financing, we defend our clients and participate in the preparation of reports to analyse the degree of regulatory compliance. The criminal liability of the company is an element of risk that must be covered, and it is necessary to have a firm such as Summons Abogados, a specialist in the anti-money laundering field, to ensure effective regulatory compliance. We also have extensive experience in handling administrative procedures for the prevention and criminal defence of potential money laundering offences. Anti-Money Laundering is a basic element in the framework of the operation of a company; it is necessary to have a specialist law firm to act in accordance with the established regulations..
At Summons Abogados we provide legal advice on the anti-money laundering and counter-terrorist Financing in Madrid and the rest of Spain. We have experience in anti-money laundering with large and small companies as well as with public bodies. We offer legal advice adapted to any sector. Anti-money laundering applies to all agents operating in the economic traffic; so if you are a company or an individual who needs specialised advice in this area, contact Summons Abogados and we will assess your case in depth.
The regulated entities to which anti-money laundering regulations apply are covered by Article 2 of Law 10/2010, of 28 April, on the Anti-Money Laundering and Counter Terrorist Financing.
These include, among others, certain financial institutions and persons (natural and legal) who carry out activities that are subject to specific regulation, such as loan broking, Crypto Assets Service Providers (CASP/ VASPs), lawyers, solicitors or other independent professionals, or even foundations and associations.
If you still have doubts about your consideration as a taxable person, contact Summons Abogados and we will study your case.
Yes. The anti-money laundering Law 10/2010, establishes that the prevention measures and internal control bodies must be examined annually by an external expert.
If the company you work for is considered a regulated entity, in general terms, you are obliged to report any situation that may indicate an indication of non-compliance with anti-money laundering regulations. You must also not undertake the financial transaction in question, but you may not inform the client that their case is being analysed as a possible money laundering non-compliance. If you have any doubts about how to proceed, please contact Summons Abogados as specialists in anti-money laundering.
No. The administrative procedure derives from strict non-compliance with Law 10/2010 of 28 April, on Anti-Money Laundering and Counter-Terrorist Financing, its implementing regulations and other applicable legislation. The consequences of the opening of an administrative procedure for anti-money laundering could result in minor, serious or very serious offences. However, the commission of a money laundering or terrorist Financing offence may result in imprisonment. It should be noted that the offence of money laundering is one of the most common crimes, given that it is linked to other crimes such as drug trafficking, tax offences, fraud, etc.
The commission of a money laundering offence requires, in general terms, a profit intention in the use of assets originated in a criminal activity. At Summons Abogados we are specialists in handling Anti-Money Laundering matters.
The Anti-Money Laundering Law 10/2010 and its Royal Decree 304/2014, of 5 May, include the infringements and administrative sanctions associated with non-compliance. Infringements are distinguished between minor, serious and very serious and the penalties applied can vary from a mere private warning to a fine of €10,000,000, including the revocation of the administrative licence to operate. In the event of any inspection, it is necessary to consult anti-money laundering lawyers in order to structure a legitimate and effective defence strategy.
SEPBLAC registers as external experts those persons who intend to act as such on the basis of their academic training and professional experience. At Summons Abogados we are external experts in the Anti-Money Laundering field and external experts registered with SEPBLAC. We have experience in preparing the required external expert reports.
Yes. Not only obliged subjects must comply with anti-money laundering regulations. Money laundering is a crime specified in Articles 298 and following of our Criminal Code, so non-compliance with anti-money laundering prevention measures is pursued not only administratively.
No. The subpoena refers to the need to attend the investigation phase in which the investigation of the case is being carried out. It is compulsory to attend this statement with a lawyer and it is more important that the professional is an expert in the anti-money laundering field, such as Summons Abogados.
