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The Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offences (Sepblac, from its initials in Spanish) is the Spanish Financial Intelligence Unit and the only one in the country. Sepblac is also the Supervisory Authority in relation to the prevention of money laundering and terrorist financing.
The new forms of economic crime and the increasing complexity and sophistication of money laundering and terrorist financing schemes led to the creation of Sepblac in 1993 as a state agency specialized in the generation, treatment and dissemination of financial intelligence.
Throughout its history, Sepblac has undergone a continuous development, currently configured as a highly qualified unit that acts with full operational autonomy and independence, as attested by the Financial Action Task Force (FATF) in the conclusions of its Mutual Evaluation Report:
“Sepblac is a strong Financial Intelligence Unit and Supervisor” (Key Findings, Mutual Evaluation Report, FATF).
This section describes the functions of Sepblac and its organizational structure. It also itemizes aspects related to the activity developed by Sepblac and its internal functioning.
