Enhancing Anti-Money Laundering Efforts: Credit Entities Strengthen Their Role, According to Spanish Banking Association

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Spanish Financial Institutions Strengthen Anti-Money Laundering Efforts

Madrid, Spain – September 19, 2025 – Associations representing Spanish credit entities, alongside the Executive Commission to Combat Money Laundering and Financing of Terrorism (SEPBLAC), recently held their eighth annual Sectoral Day for the Prevention of Capital Laundering and Financing of terrorism. The meeting, hosted at CECA headquarters in madrid, brought together leading experts and representatives from supervisory bodies and regulatory authorities.

The event followed a recent agreement between the European Central Bank (ECB) and the european Authority for anti-Money Laundering (AMLA), establishing a structured collaboration and information exchange process to enhance supervision and avoid duplication of effort in combating money laundering and terrorist financing (PBC/FT).

Spanish financial institutions underscored their commitment to regulatory compliance and active cooperation with authorities, acknowledged by a range of specialized international organizations.

Discussions during the day focused on the latest regulatory developments,emerging risk types,and evolving trends in money laundering. Lourdes jiménez Ramos, Deputy Director of Inspection and Control of Treasury capital Movements, opened the event, highlighting challenges facing both the public and private sectors, notably regarding the adaptation of institutional and regulatory frameworks with the implementation of AMLA, and upcoming mutual evaluations by the Financial Action Task Force (FATF) beginning in 2026.

AMLA Vice President Juan Manuel Vega Serrano presented a paper outlining the new authority’s strategic roadmap for strengthening supervision and coordinating financial intelligence.three roundtable sessions were held covering supervision,financial intelligence,and regulatory updates.

The supervision session, led by Raquel Cabeza, Corporate Risk Director and CECA Compliance Officer, featured insights from SEPBLAC’s Alejandro Valiñas, Head of Financial Entity Inspection, and Juan Casillas, Head of Banking, Insurance and Securities Inspection. They shared findings from recent inspections and discussed future inspection plans, emphasizing the importance of synchronized efforts between national and European supervisory bodies as AMLA takes on broader authority.

The financial intelligence session, moderated by Cristina Frejanes, Secretary-General of UNACC, included participation from Juan Carlos Calleja, Head of Strategic Intelligence at SEPBLAC, guillermo Yubero, a national Police inspector at the Central Brigade of Financial intelligence, David Saludés Morónval, Director of Regulatory Compliance at Ibercaja banco, and Luis francisco luján Moralejo, Head of Financial Crime Compliance at Banco Santander. Participants shared expertise on emerging laundering and financing techniques, highlighting the need for ongoing public-private collaboration and innovative detection tools, including alerting systems for mule accounts and fraud.

The final session, moderated by María Peco, Senior Advisor for Legal Affairs and money Laundering Prevention at AEB, featured representatives from the Treasury and International Financing, and experts from non-financial sector inspection.They explored the impact of recent EU and international regulations on Spanish organizations.

SEPBLAC Director Pedro Comín concluded the day, emphasizing the essential role of continued strong cooperation between supervisors, authorities, and financial entities in the ongoing battle against financial crime.

How does the AEB’s guidance reflect a shift in AML compliance from a purely regulatory approach to a more proactive financial crime prevention strategy?

The Evolving landscape of AML Compliance

The Spanish Banking Association (AEB) has recently underscored the critical role credit entities play in bolstering anti-money laundering (AML) efforts. this isn’t merely a regulatory tick-box exercise; it’s a fundamental shift towards proactive financial crime prevention. The AEB’s statements highlight a move beyond conventional compliance, focusing on enhanced due diligence, advanced technologies, and collaborative intelligence sharing. This article delves into the specifics of these strengthened roles,the driving forces behind them,and the practical implications for financial institutions operating within Spain and beyond. AML regulations, KYC compliance, and fraud detection are all central to this evolving landscape.

Key Areas of Increased Responsibility for Credit Entities

The AEB’s guidance focuses on several key areas where credit entities are expected to elevate their AML practices:

* Enhanced Customer Due Diligence (CDD): Moving beyond basic identification to a deeper understanding of customer risk profiles. This includes beneficial ownership verification, source of funds analysis, and ongoing monitoring for unusual activity. Know Your Customer (KYC) procedures are being rigorously reviewed and updated.

* Transaction Monitoring systems: Implementing and refining complex systems capable of detecting suspicious transactions in real-time. This requires investment in AML software and skilled personnel to interpret alerts effectively.

* Risk Assessment: Conducting extensive risk assessments that consider not only the institution’s own vulnerabilities but also the broader geopolitical and economic context. Financial risk management is paramount.

* Collaboration and Data Sharing: Actively participating in information-sharing initiatives with other financial institutions and law enforcement agencies. This is crucial for identifying and disrupting complex money laundering schemes.

* training and Awareness: Providing ongoing training to employees on AML regulations, emerging threats, and best practices. A well-informed workforce is the first line of defense.

The Technological push: Leveraging AI and Machine Learning

A significant component of the AEB’s recommendations involves embracing technology. Artificial intelligence (AI) and machine learning (ML) are no longer considered futuristic concepts but essential tools for effective AML compliance.

* AI-Powered Transaction Monitoring: ML algorithms can analyze vast datasets to identify patterns indicative of money laundering that would be impossible for humans to detect.

* Robotic process Automation (RPA): Automating repetitive tasks, such as data entry and KYC checks, freeing up compliance officers to focus on higher-risk cases.

* Predictive Analytics: Using data analytics to predict potential money laundering risks and proactively mitigate them.

* Digital Identity Verification: Streamlining the KYC process with secure and reliable digital identity verification solutions.

Real-World Example: Operation Delphinus & Collaborative Intelligence

In 2023, Spanish authorities, in collaboration with several credit entities, successfully dismantled a large-scale money laundering operation dubbed “Operation Delphinus.” This case involved the laundering of funds derived from international drug trafficking through a complex network of shell companies and front businesses. the success of the operation was directly attributed to the enhanced information sharing between banks and law enforcement, facilitated by improved AML systems and a proactive approach to suspicious activity reporting (SAR). This demonstrates the tangible benefits of a collaborative, technology-driven AML strategy.

Benefits of Proactive AML Compliance

Strengthening AML efforts isn’t just about avoiding penalties; it offers significant benefits:

* Reduced Financial Crime: Protecting the financial system from the damaging effects of money laundering and terrorist financing.

* Enhanced Reputation: Demonstrating a commitment to ethical conduct and responsible financial practices.

* Improved Customer Trust: Building stronger relationships with customers by ensuring the security of their funds.

* Reduced Regulatory Risk: Minimizing the risk of fines, sanctions, and reputational damage from regulatory breaches.

* Increased Operational Efficiency: Streamlining compliance processes and reducing manual effort through automation.

practical Tips for Credit Entities

Here are some actionable steps credit entities can take to enhance their AML efforts:

1. Conduct a Gap Analysis: Identify areas where current AML practices fall short of regulatory requirements and industry best practices.
2. Invest in Technology: Implement or upgrade AML software, including transaction monitoring systems, KYC solutions, and data analytics tools.
3. Enhance Employee Training: Provide regular training to employees on AML regulations, emerging threats, and best practices.
4. Strengthen Risk Assessments: Conduct comprehensive risk assessments that consider all relevant factors, including customer risk profiles, geographic locations, and product types.
5. Foster Collaboration: Actively participate in information-sharing initiatives with other financial institutions and law enforcement agencies.
6. regularly Review and Update Policies: Ensure AML policies and procedures are regularly reviewed and updated to reflect changes in regulations and emerging threats.
7. Implement Continuous Monitoring: Establish a system for continuous monitoring of transactions and customer activity to identify and address potential risks.

the Future of AML: A Risk-Based Approach

the AEB’s guidance signals a clear trend towards a more risk-based approach to AML compliance. This means focusing resources on the areas of highest risk and tailoring AML measures to the specific characteristics of each customer and transaction. This requires a deep understanding of money laundering typologies and a willingness to adapt to the ever-changing tactics of financial criminals. Compliance technology and ongoing vigilance will be key to success.