Agreements and MoUs

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The signing of coordination agreements between the supervisory bodies of financial institutions and Sepblac corresponds to the Commission for the Prevention of Money Laundering and Monetary Offences (CPMLMO).

Using their competences, the CPMLMO has signed agreements with Banco de España and with Dirección General de Seguros y Fondos de Pensiones (DGSFP) for the coordination of their respective actions in the area of supervision and inspection.

Likewise, the powers relating to the economic, budgetary and procurement regime of Sepblac are exercised by the Bank of Spain in the terms of the agreement signed between that institution and the CPMLMO.

Memorandums of understanding (MoUs)

Sepblac cooperates with other competent authorities of the European Union (EU) whenever necessary to carry out the functions established in Law 10/2010 of 28 April on the prevention of money laundering and terrorist financing.

In the case of non-EU competent authorities, the cooperation and information exchange shall be conditioned by the provisions of International Treaties or Conventions or, as applicable, by the general principle of reciprocity, and shall be conditional on the application by such foreign authorities of the same obligations of professional secrecy as are applicable for the Spanish authorities.

The information exchange by Sepblac with other EU Financial Intelligence Units shall be done in accordance with the provisions of the Community regulations.

Likewise, the information exchange by Sepblac with non-EU Financial Intelligence Units shall be done in accordance with the Egmont Group principles or under the terms of the relevant memorandum of understanding (MoU). MoUs with foreign Financial Intelligence Units are signed by the Director of Sepblac and must count with a prior favorable report by the Spanish Authority for Data Protection.