Definition and regulations
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The Centralized Banking Account Register (FTF, from its initials in Spanish) is an administrative register created for the sole purpose of forestalling and preventing money laundering and terrorist financing.
The Secretary of State for Economy and Business Support is responsible for the FTF, acting Sepblac as the data processor on behalf of the former.
Reporting institutions must declare to Sepblac, for its inclusion in the FTF, certain information regarding some financial products as well as their holders, under the Law 10/2010 of April 28, on the Prevention of Money Laundering and the Financing of Terrorism.
When investigating crimes related to money laundering or terrorist financing, the examining judges, the Public Prosecutor’s Office and, upon judicial authorization or that of the Public Prosecutor the authorised bodies may obtain information reported to the FTF.
Likewise, Sepblac, for the performance of its functions, may obtain access to data declared to the FTF.