On April 30, 2021, Sepblac published data on the activities carried out in 2020, in the exercise of its powers as the Financial Intelligence Unit (FIU), as supervisory authority and as the body entrusted with maintaining the Centralized Banking Account Register.
In June of 2021, the People’s Bank of China (PBOC, China’s central bank and major financial regulator) published the draft version of amended Anti-Money Laundering Law (Amended AML Law) seeking for public opinion. Amended AML Law contains major changes to improve the effectiveness of its legal framework to combat money laundering and terrorist financing and has expanded AML obligations to all individuals and organizations. In this article, we summarized the highlights of the Amended AML Law.
The Contentious-Administrative Court no 3 of Valencia has granted appeal to a company which had been fined for infringing the financial legislation on cash payments. Precisely, in judgment no 76/2021, of February 25, 2021, the court holds that the elimination of cash for transactions exceeding €2,500 in which a business or professional is involved, under Law 7/12 of November 29, cannot be applied across the board.