• Caja Rural Central


    Compliance -  Bosque de pinos

Corporate Governance Report 2014

Prevention of money laundering

Caja Rural Central Sociedad Cooperativa de Crédito, financial institution duly incorporated and domiciled in Spain and its consolidated group is committed to strict compliance with all rules, national and international prevention of money laundering and terrorist financing.

This commitment entails the implementation of written policies and procedures established in compliance with both Spanish law, as international rules that apply within the country, being supervised, both the establishment and enforcement, by the Executive Service of the Commission for Prevention of Money Laundering (SEPBLAC).

These policies and procedures to prevent money laundering are intended not to use the structure of the institution for carrying out activities that could be related to money laundering.

The main obligations under these policies and procedures include:

  • Establishment of measures for admission, identification and customer knowledge.

  • Knowledge of customer activity involves more action than mere provision of documentation.

  • Digital preservation of documents proving the identity and customer activity.

  • Operations analysis, through tools that allow the detection of suspicious or unusual.

  • Implementation of detection systems including natural and legal persons in public lists of persons related to terrorist financing.

  • Communication to the Bank of Spain of all operations suspected of being related to money laundering or terrorist financing.

  • SEPBLAC communication to all information that is either required by that body, either required communication.

  • Training to all employees of the entity in prevention of money laundering.Access by all employees of the entity to both internal written policies and procedures, as any amendments thereto.

  • Annual audit by an external expert in the prevention of money laundering, which analyzes both the procedures in the prevention of money laundering and compliance.

  • Establishment of Internal Control and Communication.

  • Failure to establish business relationships with shell banks (Shell Banks).

All policies and procedures on the prevention of money laundering are implemented by the Caja Rural Central Sociedad Cooperativa de Crédito and his group are updated in accordance with the provisions of the legislation in force at all times.

Money Laundering Prevention Information