Functions

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Without prejudice to the powers conferred on the law enforcement agents and other public authorities, Sepblac performs the following functions:

  • Render assistance to the judicial bodies, the Public Prosecutor’s Office, the Criminal Police and the competent administrative bodies.
  • Submit to the aforementioned bodies those reports with reasonable indications of a crime or, where appropriate, breach of administrative law.
  • Receive from obliged subjects to Law 10/2010 on 28 April on the prevention of money laundering and terrorist financing the reports referred to in articles 18 and 20 of the foregoing law.
  • Analyse the information received and take the necessary action in each case.
  • Execute the orders and follow the guidelines by the Commission for the Prevention of Money Laundering and Monetary Offences (CPMLMO) or its Standing Committee, and submit to the latter any reports that it requests.
  • Supervise and inspect fulfilment of the obligations under Law 10/2010 of 28 April in accordance with provided in article 47.
  • Make recommendations to obliged subjects by Law 10/2010 of 28 April in order to improve internal controls.
  • Propose to the Standing Committee of the CPMLMO the formulation of formal requests to obliged subjects by Law 10/2010 of 28 April.
  • Report, with the exceptions determined in the regulations, in the procedures for the creation of financial institutions on the adequacy of internal controls under the schedule of activities.
  • Report, with the exceptions determined in the regulations, on the precautionary assessment of acquisitions and increases in shareholdings in the financial sector.

The rest of the functions foreseen in Law 10/2010 of 28 April or attributed by the legal provisions in force.