Money laundering law, new law?

Started by Guanche, Thu 5 Mar 2015, 16:23

Previous topic - Next topic

Guanche

Over the weekend the wife received an 'Urgent' text from our bank. If we didn't ring a number in the text we risked having out account suspended!! At first I thought it was a scam or something as it did seem very alarming. However we took the plunge and phoned the number. It was our bank and the person on the other end didn't have a clue! Then we knew it was a real text :giggle: All they could do is tell us to get to the bank on Monday morning.
First thing Monday morning found us at the bank. It was explained to us that its a new law introduced by the Bank of Spain to combat money laundering. By all accounts everyone in Spain is going to have to go to their bank and prove who they are. They were satisfied with the wife's ID card but I had to take my residency paper in, the green paper which we did today only to be told 'Oh is hasn't got a photo on' So tomorrow we have to go all the way back with my passport!
One of my brother in laws knew about it but hasn't had to submit himself to the bank as yet. We're going to ask tomorrow if this law only singles out 'Foreigners' on accounts as I am not the account holder on our account only the second named.
So if you get the call remember residency paper (the green one) and your passport,

Would this be illegal if it was only for foreigners??


Just had a thought does everyone know about this and I just haven't been paying attention....again :-[

Janet

It was my understanding that this law is around 3 or so years old, and that different banks are finding different ways of dealing with it ... but Nova's the one to know best on this!

Nova

Hmmm...

I am aware of a few changes to the law but none of them match exactly what you have described.  Especially since the bank was required to take copies of your ID when you opened the account.  Maybe they didn't and somebody realised "oops"  :D

The main new law introduced by the bank of Spain is that the bank must keep a copy of the customer's ID for any cash transaction of €1,000 or more.  There is also something called FIOC, don't ask me what iit is, but it means that all personas jurídicas (companies, etc.) and certain personas físicas (individuals) that fall into the high turnover or high risk category, must provide details of their economic activity.  What puzzles me is that you were only asked to present your ID and not your proofs of income.

We have been digitalising ID for all new customers since 2011, and for everyone who makes a cash transaction of €1,000 or more since December 2014.  We have many many customers with older accounts for whom we have nothing more than a sepia-coloured paper photocopy of their ID stapled to the back of their signature card but we have not yet begun to chase any of them up for a scan.
If you are always trying to be normal, you will never know amazing.

—————
My other website: verygomez.com
Instagram: novahowardofficial

Guanche

#3
The question of ID came up with me questioning why they don't use the photo copies of our ID when we opened the accounts? Also when we took a mortgage out the first time, and the second time! We have been receiving well over €1000 a month for years, the girl just shook her head and said words to the effect of 'They check yours and mine but the people who are stealing all the big money don't even get looked at! We had to laugh.

The proof of income was a tad strange. We went armed with a couple of recent pay slips and the last five P60's They weren't interested. It seemed all they wanted was a copy of an up to date ID.

I forgot we had to provide an electronic signature as well. I get the feeling that our bank would rather inconvenience their customers than pay members of staff to check the information they already have on record.

Anyway it's all done now

Perikles

This is bollocks. We had to identify ourselves when opening the account. Do they think we have changed idenity?

This is something interesting: somebody with a bank account with a mortgage could refuse to schlepp themselves down to the bank to identify themselves. For a start they had to identify themselves to get the mortgage. Tell the bank to piss off and close the accounts  :whistle:

Janet

On a related perspective, I think that any bank that communicates by text message, when the police are issuing daily warnings against reading, let alone believing, any text message from a bank, deserves to be roundly ignored. And I'd like to see the court that would side with the bank if it ever got nasty!

Guanche

I think we have to take on board that my bank is one that stole money from me and has a superior court judgment against it and still hasn't paid up. So me telling them to piss off would be like pissing in the wind :giggle:

In a few days time I will reach the grand old age of 60. At that juncture I will relinquish my crown and step down from my position of the  :angryoldman: Life's to short :tiphat:




And if you believe that! :angryoldman: :angryoldman: :angryoldman: :angryoldman:

Marion

I was asked by my bank least year to show my DNE and my passport. Think it was an email they sent me. When I was in last summer I did so, but this wasn't enough. They wanted some kind of non-residency proof. I explained I filled in the certificate which they send me (and I pay for) and I send back to Madrid every two years. Not enough I was told. I was told I needed to go to the police station in Las Americas, tell then I was non-resident and they would give me a certificate of non-residency. I asked "so I just tell him that I'm non-resident and he then gives me the certificate?"  I was told yes. I said I didn't have time as I was leaving in 2 days. Not heard anything since!

Janet

yes, as I understand it, under a new law three or so years ago, non-resident accounts can only be maintained with confirmation of actual residency. There's an explanation on my website HERE ... people with bank accounts here will have one of two statuses, resident or non-resident, and the banks need confirmation of which is applicable.

I would actually sort it out because it could lead to an embargo on the account out of the blue at some point.

Marion

I've just recently filled out a certificate which I sent to the bank's headquarters in Madrid. They charge me for it. Do I need to get another one from the police too?