Spain Country Summary

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.

Spain has established a robust legal framework to combat corruption, with various laws and penalties in place to address bribery and financial malfeasance. Despite these measures, challenges persist, particularly in the southern regions, where corruption among local officials and some judicial figures remains a concern, impacting the overall resilience to crime.

The country is also a significant player in transnational crime, including human trafficking, drug trade, and cybercrime, with foreign criminal groups dominating the landscape. While Spain's judicial system is effective in prosecuting individual offenders, it struggles with larger organized crime networks, and the economic environment continues to facilitate money laundering activities, indicating ongoing vulnerabilities in its fight against crime.

Spain has emerged as one of the fastest-growing economies in the European Union, actively attracting foreign investment while implementing a comprehensive post-COVID-19 recovery plan aimed at modernizing its economy through digital and green transformations. With nearly 150 billion euros in Next Generation EU recovery funds, Spain led GDP growth in 2023 among major EU economies, and the International Monetary Fund (IMF) projects continued growth of 1.9% in 2024 and 2.1% in 2025, despite ongoing challenges such as high unemployment and public debt. The country offers a favorable investment climate characterized by a well-educated workforce, excellent infrastructure, and a legal framework that generally permits 100% foreign ownership, making it an attractive destination for foreign direct investment, particularly in sectors like energy, real estate, and financial services.