Systematic reporting

Unofficial translation provided for information purposes.

Please note our language policy.

Formality description

Article 20 of Law 10/2010 of 28 April on the prevention of money laundering and terrorist financing establishes that obliged subjects shall report to Sepblac at the established frequency the transactions determined in the regulations.

Indeed, Article 27 of the Regulation of Law 10/2010 of 28 April, approved by Royal Decree 304/2014 of 5 May, states that obliged subjects shall report in any case to Sepblac on a monthly basis the following transactions:

  • Transactions entailing the physical movement of coins, paper currency, traveller’s cheques, cheques or other bearer documents issued by credit institutions, except those that are credited or debited to a customer’s account, for amounts exceeding EUR 30,000 or the equivalent amount in foreign currency.
  • Obliged subjects that perform money remittances in the terms set out in article 2 of Law 16/2009 of 13 November, on payment services, shall report to Sepblac those transactions entailing the physical movement of coins, paper currency, traveller’s cheques, cheques or other bearer documents for amounts exceeding EUR 1,500 or the equivalent amount in foreign currency.
  • Transactions carried out by or with natural or legal persons who are resident, or those acting on their behalf, in territories or countries designated for that purpose by Order of the Minister of Economy and Competitiveness, as well as transactions involving transfers of funds to or from said territories or countries, irrespective of the residence of the persons involved, provided that the amount of those transactions exceeds EUR 30,000 or the equivalent amount in foreign currency.
  • Transactions involving movements of means of payment subject to mandatory declaration under article 34 of Law 10/2010 of 28 April.
  • Aggregate information about money remittance activity, as defined in article 2 of Law 16/2009 of 13 November, on payment services, broken down by country of origin or destination and by agent or place of business.
  • Aggregate information on international transfers of credit institutions, broken down by country of origin or destination.
  • Transactions specified by Order of the Minister of Economy and Competitiveness.

Systematic reporting of aggregate information about money remittance activity broken down by country of origin or destination and by agent or place of business and aggregate information on international transfers of credit institutions broken down by country of origin or destination will be only exigible as of a date determined by Sepblac.

Likewise, Sepblac shall establish criteria to determine when, for the purpose of systematic reporting, several transactions should be added insofar as being considered instalments of a single operation.

In the case of merely attempted transactions, the obliged subject shall record the transaction as not executed and report to Sepblac on the information obtained.

In the absence of transactions requiring systematic reporting, obliged subjects shall notify this fact to Sepblac on a semi-annual basis.

Notwithstanding the foregoing, if the transactions subject to systematic reporting contain indications or certainty of being related to money laundering or terrorist financing, the provisions of articles 17, 18 and 19 of Law 10/2010 of 28 April shall apply.

Target audience

Natural or legal persons holding the status of obliged subject in the terms set forth in article 2 of Lay 10/2010 of 28 April.

Notwithstanding the above, in accordance with established in article 27.3 of Regulation of Law 10/2010 of 28 April, insurance brokers, financial advisory companies and obliged subjects listed in article 2.1 (k) to (y), both inclusive, of Law 10/2010 of 28 April will be exempted from the obligation of systematic reporting.

Process

By electronic means

Obliged subjects that must comply with the obligation of systematic reporting shall submit their reports on a monthly basis or, in the absence of transactions requiring systematic reporting, on a semi-annual basis by using the DMO software within the terms detailed below.

Only in those cases in which the monthly transactions report or the negative semi-annual report be made after the expected deadline, the representative or the authorized person by the representative to Sepblac will need to submit, according to Instruction 1/2006 of 17 January 2007, a letter justifying the reasons for the out of time process to the following address:

Sepblac
Calle Alcalá, 48
28014 Madrid Spain

The use of the DMO software is subject to the following regulation:

In Spanish only. Instrucción 1/2006, de 17 de enero de 2007, sobre la declaración mensual de operaciones, modificada por la Instrucción 1/2008, de 15 de enero de 2008

  • Download and use of the DMO softwareThe DMO software, the files for those users who, in addition, wish to install the concurrent modality, the User’s Guide and a file containing the specifications of the XML schemas for the massive loading of transactions by obligated subjects opting for this possibility, are available for download at the following links:

    Warning! Reports and installments in progress (“en curso”), completed (“finalizados”), sent (“enviados”) or exported (“exportados”) as well as any acknowledgment of receipt generated by the DMO software are saved within the local computer.

    It is highly recommended to those obliged subjects who need reinstalling or migrating the software into a new computer, to save any file generated and stored in the software working route in order to restore them once the software have been reinstalled.

  • Renewal of the public certificate of SepblacFor a correct encryption, authentication and signature of reports, the DMO software also uses a public digital certificate issued in favour of Sepblac which is installed on the local computer during the installation of the software. The original certificate installed by default in version 3.0 expired in 2014. A second certificate issued in replacement of the previous one expired in September 2018. Consequently, once the DMO software is installed and before starting to use it, a new certificate must necessarily be installed.However, in order to ensure its validity, start and expiration dates of the certificates installed within the DMO software can be checked at any time at Mantenimiento > Información Certificado Sepblac.The current public digital certificate of Sepblac, valid from 30 July 2018 to 30 July 2022, and the instructions for its update are available for download at the following links:

Submission deadline

Transactions, movements and instalments subject to systematic communication shall be reported on a monthly basis to Sepblac between days 1 and 15 of each month, with respect to the transactions, movements and instalments referred to the previous month.

Obliged subjects that, during a natural semester (from January to June or from July to December) have not made any transaction susceptible of systematic reporting, shall do a negative semi-annual report between days 1 and 15 of the month after the end of the semester to be reported.