Spain: Ministry of Economy, Industry and Competitiveness Consults on Implementing Provisions of 5th AMLD

On November 12, 2018, the Ministry of Economy, Industry and Competitiveness published a consultation paper on Modification of Law 10/2010, of April 28, on the prevention of money laundering and terrorist financing to implement provisions of the 5th Anti-Money Laundering Directive (5th AMLD). The aim of the consultation is to incorporate provisions of the 5th AMLD into Spanish law, improving the availability of information for obliged entities to fight against money laundering and the financing of terrorism, taking into account development of new technologies such as virtual currencies.

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