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.

Credit institutions must declare to Sepblac, for its inclusion in the FTF, certain information regarding current accounts, savings accounts, securities accounts or fixed term deposits as well as the holders of such accounts and deposits.

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, law enforcement agents may obtain information reported to the FTF.

Likewise, Sepblac, for the performance of its functions, and the State Tax Administration Agency (AEAT, from its initials in Spanish), in the terms provided in Law 58/2003 of 17 December on General Taxation, may obtain access to data declared to the FTF.