Spain Adopts Money Laundering Legislation

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Thursday, April 1, 1993
Author: 
Bruce Zagaris
Volume: 
9
Issue: 
4
136
Abstract: 
In November 1992, the Spanish Parliament passed legislation (“Measures on the Prevention of Money Laundering” - - MPML), criminalizing money laundering and imposing recordkeeping obligations on financial institutions in order to implement the anti-money laundering directive of the European Community. Although the new law is directed primarily at financial entities, the law can apply to whatever professional activities or undertakings the Spanish Government considers particularly susceptible to use by money laundering…[more]