Banco de Valencia's Anti-Money Laundering Policy consists of detecting the mechanisms or procedures followed to give goods or assets of criminal origin a legal or legitimate appearance, for the purpose of preventing said assets from entering the financial system in an official manner.

 

The new Law 10/2010 on the prevention of money laundering and financing of terrorism came into force on 28 April 2010, which transposes the Third Directive 2005/60/CE of the European Parliament and of the Council, dated 26 October 2005, on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, executively enforced by Directive 2006/70/EC of the Commission.

 

Banco de Valencia, as a party subject to this legislation, complies with the prevailing regulations and therefore has an Anti-Money Laundering Unit responsible for establishing policies to prevent money laundering and terrorism financing, which conducts training courses for our employees, it takes preventive control measures and examines transactions, as well as fulfilling its duty of confidentiality and identification of new customers.