Formality description

According to Article 18 of Law 10/2010, of 28 April on the prevention of money laundering and terrorist financing, Sepblac is responsible for determining the mode and format in which the regulated entities shall make their STR.

Due to the proliferation of so-called “mule accounts” (payment accounts that act as intermediaries to collect funds of fraudulent or other illegal origin, transferring the funds to another destination, as part of a money laundering process), Sepblac has implemented a new STR reporting system with the aim of streamlining the reporting of these mule accounts by the obliged subjects and improving their treatment. Instead of submitting individual STRs for each of the mule accounts detected and analyzed, the obliged subjects can group information on several mule accounts in the same STR.

In this new reporting system, the information on the reported accounts must be added to an XML file. The structure and specifications of this XML file are defined in an XSD file. The XML file has to be attached to a STR that will be sent to Sepblac by the usual STR system.

STRs of mule accounts made in the traditional way will be accepted until September 2024. Thereafter, the reporting of this type of accounts should be made in the new format.

The new reporting system is s explained in detail in the user´s manual. For more information on mule accounts and their reporting, please refer to the FAQ document.

Files to download

• User manual (in Spanish only)
• XSD schema (in Spanish only)
• FAQs (in Spanish only)

Procedure

Obliged subjects that must comply with the obligation of reporting shall submit their mule accounts STRs to Sepblac following the usual STR system.