LESSON 3: REGULATION OBJECTIVES
The regulation on AML/CTF fundamentally seek to protect the integrity of the financial system and other sectors of the economic activity. For that purpose, the standard seeks a double objective:
- Prevent the perpetrators of a preceding criminal act from being able to use the funds obtained through the performance of certain operations or businesses, since the regulations impose the obligation on the obliged subjects by Law 10/2010 not to carry out any operation that may be linked with money laundering or terrorism financing.
- Know and obtain information about the alleged criminal acts and their authors, authorizing the obliged subjects to request documentation and clarifications about the client, their activity, and the origin of the funds.
