May 18, 2021

Authorities in the fight against money laundering highlight the information on real ownership of Notaries

Authorities in the fight against money laundering highlight the information on real ownership of Notaries


MadridUpdated:

The Database of Real Ownership of Notaries has identified the real owners, in an 86% accredited way, of 2,284,104 legal persons, both of companies and associations, foundations and political parties. In the more than four years it has been in operation, it has sent 298,557 information on real ownership to judicial and police authorities. Identify the actual owner lets you know who the hidden people are after societies, foundations, associations, political parties and unions; even after a tangle of ghost societies and figureheads.

"The databases where these people are identified (required in the IV and V European Directives against money laundering) can not be based on mere demonstrations, they have to follow a traceability and show who is really at all times the owner of the participations of a society ", clarified Pedro Galindo, director of the Centralized Organ of Prevention of money laundering of notaries.

The Real Ownership Database developed by the Notarized and recognized by the Regulations of the Spanish Law on the Prevention of Money Laundering, is today an example in the world, and the model followed by countries such as Japan. The real holders identified in it are mostly accredited. So much so that it has been proposed by the International Monetary Fund as the model to be imitated by the rest of the Notariats, that is, by 88 countries of the world.

Gonzalo González de Lara, advisory member of the General Subdirectorate of Inspection and Control of Capital Movements of the Secretariat of the Commission for the Prevention of Money Laundering, assured that "the Database of Real Ownership of Notaries is a fundamental tool, taken as an international model when there was nothing similar in the world. Identifies the real holder in an accredited and non-declarative way. In fact, the existence of this file of real ownership was incorporated into Spanish legislation as early as 2013, in order to comply with the FATF requirements. "

In the same vein, Raquel Cabeza, deputy general director of Inspection and Control of Capital Movements, said that "notaries play a very important role in the prevention of bleach, with bases like the one of real ownership, recognized in the Spanish regulation of prevention of the laundering ".

From the Tax Agency, Luis Egido, deputy inspector of the National Fraud Investigation Office, stressed "the importance of the information on real ownership obtained by the notary being accredited and not only declared", while Carlos Sánchez-Vilar, deputy director of the Surveillance Unit of the CNMV, put in value that the notary provides them "information on the real ownership of limited and limited companies that is not in the mercantile registers and that is very useful for us".

«The most important tool»

For Francisco Almansa, head of the department of Economic Crime and against Corruption of the UCO, "the most important tool that the judicial police has for the fight against money laundering is the collaboration with the Centralized Organ of Blanque del Notariado".

In the international arena, Marconi Costa, executive secretary of GAFILAT, assured that "the Spanish Notary is the model to be followed in the prevention of money laundering." The work developed in the identification of the real owners by its Centralized Prevention Body made it possible for Spain approves the evaluation of the FATF In comparison, most of the countries of the world have not yet implemented a system of identification of the real owners of legal entities ".

Another of the strengths of the BDTR is that it allows knowing the real ownership of numerous foreign companies that operate in Spain, whether they carry out their activity directly or through a Spanish company. It is the only database where this information is collected, as these companies are not required to register in any commercial or administrative register.

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