Sepblac

Supervisory Authority

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Sepblac, as Supervisory Authority, has the mission of ensuring compliance by obliged subject with respect to their duties in order to prevent money laundering and terrorist financing.

In accordance with the best international practices, Sepblac exercises its supervisory functions according to a risk-based approach (RBA), so that the supervisory cycle is more intense with respect to those sectors of activity and obliged subjects with a higher risk of money laundering and terrorist financing.

In determining the supervisory risk, Sepblac relies on its operational and strategic analysis. According to the Financial Action Task Force (FATF), “as the main AML/CFT supervisor, Sepblac takes a highly sophisticated risk-based approach to supervision across different sectors and within each sector”.

In the exercise of its supervisory functions, Sepblac applies the Guidelines by the European Supervisory Authorities and the European Banking Authority (EBA).  In addition, Sepblac takes into consideration other EBA publications related to our sector.