Technical unit in the prevention of money laundering

Royal Decree 304/2014, of May 5, which approves the Regulation of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism, in its article 35, imposes the obligation to create a Technical Unit support to those subjects whose annual turnover exceeds 50 million euros or whose annual balance sheet exceeds 43 million euros. However, even if it is not due to legal imperatives, it is possible that your entity decides to constitute the body, thereby allowing greater efficiency in the application of the established internal control measures in your business.

The technical prevention units are the main organ with regard to the company's prevention plan.. While it is true that the first filter has to be made in each business area, the technical units are the fundamental element in what is referred to in the entity. This is due to the high degree of experience and qualification that is presumed to its members.

For those tasks entrusted to it, the management of the company must ensure that the Technical Unit has not only duly trained employees but also sufficient human and material resources to carry out its activity successfully.

Due to the degree of complexity and the economic effort it can entail for your organization, PBK Asesores offers you the possibility of outsourcing these functions with us, with the degree of specialization you need.

Nobody can ignore the fact that the Technical Unit does not limit its action to the analysis of operations, being also the cornerstone on which the system of general prevention of the entity is developed and updated, conditioning its effectiveness.

Obligations of the Technical Unit that you can contract with us:

  • Detection, analysis and documentation of suspicious transactions.
  • Preparation of the Risk Self-Assessment Report to procure an early detection of the suspicious transactions.
  • Review of the established controls, with special mention to the transactions and clients of greater risk detected.
  • Verification of the database of clients and interveners against Sanctions Lists
  • Interlocution with the OCI, reporting the matters of its competence and convening the appropriate meetings.
  • Interlocution with the Representative before the SEPBLAC, collaborating with the information obligations imposed on the entity.
  • Drafting of the forms for the communication of suspicious activity reports to the SEPBLAC, as well as of the obligatory monthly declarations (DMO) and of the negative half-yearly declaration when it be the case.
  • Periodic control and updating of the Procedures Manual and the protocols adopted, as well as the training policy, maintaining its validity and effectiveness.
  • Preparation of the Annual Report of Activities and Statistical reports of the prevention bodies, with special reference to the evidence repository.