{"id":1311,"date":"2015-07-02T11:41:35","date_gmt":"2015-07-02T11:41:35","guid":{"rendered":"http:\/\/progresomicrofinanzas.org\/?p=1311"},"modified":"2016-02-18T11:01:37","modified_gmt":"2016-02-18T11:01:37","slug":"anti-money-laundering","status":"publish","type":"post","link":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/anti-money-laundering\/","title":{"rendered":"Anti-money laundering"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-right\"><a href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/posts\/1311?print=pdf\" class=\"pdfprnt-button pdfprnt-button-pdf\" target=\"_blank\"><img decoding=\"async\" src=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/plugins\/pdf-print\/images\/pdf.png\" alt=\"image_pdf\" title=\"View PDF\" \/><\/a><a href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/posts\/1311?print=print\" class=\"pdfprnt-button pdfprnt-button-print\" target=\"_blank\"><img decoding=\"async\" src=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/plugins\/pdf-print\/images\/print.png\" alt=\"image_print\" title=\"Print Content\" \/><\/a><\/div><p style=\"text-align: justify;\">This law incorporates the latest recommendations of GAFI, the FATF-style Spanish financial action task force set up by the government to implement international anti-money laundering standards, placing domestic Spanish regulation at the forefront of international best practices, by including the very latest international demands.<\/p>\n<p style=\"text-align: justify;\">The main new feature is the further ramification of the &#8220;risk-based approach&#8221; that is already established under current law, incorporating the requirement of regulated entities to analyze the main risks they face, in accordance with the type of business, product or customer with which they establish business relationships. On the basis of this analysis, regulated entities have certain obligations of a procedural nature, to ensure a match between the internal policies and procedures and the risk profile of the respective entity.<\/p>\n<p style=\"text-align: justify;\">The law also allows the State Tax Department (Agencia Estatal de Administraci\u00f3n Tributaria) to request and obtain the information that regulated entities hold or manage, on the grounds of diligence obligations contained in the law. It also gives the regulated entities discretionary powers to check out the professional or business activity declared by its customers through personal visits to the places where they carry out their business activities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This law incorporates the latest recommendations of GAFI, the FATF-style Spanish financial action task force set up by the government to implement international anti-money laundering standards, placing domestic Spanish regulation at the forefront of international best practices, by including the very latest international demands. The main new feature is the further ramification of the &#8220;risk-based [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":1470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"tags":[],"class_list":["post-1311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","numero-1-en","seccion-published-and-draft-legislation-microfinance","pais-spain"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Anti-money laundering<\/title>\n<meta name=\"description\" content=\"This law incorporates the latest recommendations of GAFI against money laundering\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/anti-money-laundering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Anti-money laundering\" \/>\n<meta property=\"og:description\" content=\"This law incorporates the latest recommendations of GAFI against money laundering\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/anti-money-laundering\/\" \/>\n<meta property=\"og:site_name\" content=\"Progreso\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/fundacionmicrofinanzasbbva\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-02T11:41:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-02-18T11:01:37+00:00\" \/>\n<meta property=\"og:image\" 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