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Financial Institutions were defrauded of € 50.000 through loan applications with false identities


Officers of the Spanish National Police arrested three persons in Malaga who allegedly created false identities for defrauding Financial Institutions. By now the fraud amounts to € 50.000.

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62% of the bank managers are considering the fight against money laundering as a high priority matter


According to a global study on money laundering by KPMG

the financial crisis induced that this kind of programs are now remaining in the background. The costs caused by the proper compliance of the legislation for preventing money laundering increased by 45%.
The option of externalizing some aspects of this kind of programs may suppose cost savings for the financial institutions.

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A money laundering ring which laundered 100 millions was dismantled


Police officers of the Spanish National Police Force and officials of the Spanish Tax Agency managed to dismantle a money laundering ring which operated for commissions for well known drug dealers of the region of Arousa. According to the first estimates they were turning over more than 100 million Euros of dirty money. The ring laundered the funds obtained from illegal truck trafficking by diverting them to fictitious companies and false invoices.

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Because of money laundering offences the Spanish Supreme Court fines with 187 million the spouses of two businessmen


The Provincial Court of Malaga had previously acquitted the two women who were accused of money laundering

The Spanish Supreme Court contradicted the Provincial Court of Malaga by increasing the number of persons convicted for money laundering through currency exchange businesses and car rental companies from two to five. Above all it raised the total amount of fines from 1,5 million Euros, as decided by the court of first instance, to 187 Euros.

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80% of the drug dealer’s money is laundered in telephone booths


Easy, cheap and difficult to detect, these premises managed to launder money massively, up to 100 million Euros.

Easy, cheap and difficult to detect. This has converted the telephone booths of our country into the main centers for laundering money of medium scale drug proceeds. Indeed they are carrying out 80% of the money laundering affairs of our country. Some gangs set up telephone booths specifically for this purpose, others act legally just for earning a living and in some occasions the owners of the establishments are “rewarded” for the provided services.

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Living with a false identity


“As of today your name is Iván and your surname Donochev Penkov”, this was what a journalist from EL MUNDO TV heard, for carrying out a TV report

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he lived with a false identity during months.

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Six persons were arrested because of money laundering offences estimated at more than 3.5 million of Euros


National police officers arrested 6 alleged perpetrators for money laundering offences, for belonging to a criminal organization and for offences against the public health. The six were all members of an organized group, which was involved repeatedly in laundering of drugs proceeds.

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The consumer credit halts its fall in 2010 at 0,2%


New investments in consumer credit operations for durable goods closed in 2010 with 23.425,5 million Euros. This means a decline of 0,2% and moderates markedly the fall of the previous year of 25,7%, according to the data provided by ASNEF (Spanish Association of Credit Reference Agencies).

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AML (Anti-Money Laundering), Sanction and PEP (Politically Exposed Person) Lists


Soluciones Confirma creates for its clients a List Search Module which provides access to international official lists of persons or entities which have been sanctioned and to data of politically exposed persons.

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Car dealers will have to report cash payments of more than 15.000 Euros


Car dealers are obliged to report cash receipts of more than 15.000 Euros to the Ministry of the Interior.

This new obligation for car dealers is due to the enforcement of the Spanish Anti-Money Laundering Act, with the main objective to prevent the abuse of economic operators for criminal purposes.

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