Spain Country Summary
Sanctions
Low Concern
FATF AML Deficient List
Low Concern
Terrorism
Low Concern
Corruption
Medium Concern
US State ML Assessment
High Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Low Concern
Offshore Finance Center
Low Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Spain is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The latest follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Spain was undertaken in 2019. According to that Evaluation, Spain was deemed Compliant for 28 and Largely Compliant for 10 of the FATF 40 Recommendations. It was also deemed Highly Effective for 1 and Substantially Effective for 9 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.
Sanctions
There are no international sanctions currently in force against this country
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 56 |
| World Bank: Control of Corruption Percentile Rank | 72 |
Spain has established a comprehensive legal framework to combat corruption, including civil and criminal sanctions for bribery and financial malfeasance. The government has strengthened its anti-money laundering measures to align with EU regulations, and the General State Prosecutor's Office actively investigates significant corruption cases. Despite a slight decline in its Transparency International ranking, Spain maintains a generally uniform enforcement of anti-corruption laws, with no bias against foreign investors.
Economy
Spain is currently one of the fastest-growing economies in the EU, actively attracting foreign investment while implementing a post-COVID-19 recovery plan aimed at modernizing its economy and promoting green and digital transformations. With a projected GDP growth of 1.9 percent in 2024 and 2.1 percent in 2025, Spain's economy is bolstered by nearly 150 billion euros in recovery funds, although it still faces challenges such as high unemployment and public debt.
Spain's investment climate is highly favorable, characterized by a stable legal framework that allows for up to 100 percent foreign ownership in most sectors and complete liberalization of capital movements. In 2023, foreign direct investment flows into Spain reached $30.4 billion, with significant contributions from the United States, particularly in sectors like energy and real estate. The country is actively leveraging nearly 150 billion euros in Next Generation EU recovery funds to modernize its economy and promote sustainable growth.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings