Money laundering means those acts and conduct referred to in the Law on the Prevention of Money Laundering and the Financing of Terrorism (LPBC), and which have as their object goods that originate in criminal activities, that is, have their Origin in a crime.
Not all persons are obliged to comply with the obligations to prevent money laundering, but only those that expressly indicates the Law. If you want to know if you are obliged to comply with these regulations click here
Consequences of non-compliance with the Law
The Law provide for different types of penalties depending on the seriousness of the infringement, the most frequent and significant being:
Private warning and fine of up to 60,000 euros.
Public warning and fine of at least 60,001 euros.
Very serious infringements:
Fine of a minimum amount of 150,000 euros.
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