Money laundering
lawyer in Spain

Money laundering is committed by anyone who acquires, holds, uses, converts or transfers assets knowing they come from criminal activity —their own or someone else's— or who does anything to hide that origin or to help those involved escape the consequences. The sentence is six months to six years in prison and a fine of up to three times the value of the assets, higher when the funds come from drug trafficking or corruption. Laundering through gross negligence is also an offence.

• Lawful source of funds: documentary reconstruction of the client's wealth, with independent forensic accounting reports.
• Predicate offence: without a proven underlying crime there is no laundering, however unusual the transaction.
• Knowledge: lack of proof that the origin was known rules out intentional laundering.
• Asset freezes and confiscation: frozen accounts and seized property, which can be challenged early.

Companies can be criminally liable for laundering committed within them; an effective compliance programme can exclude or reduce that liability.

Is it a crime to hold cash I cannot justify?

Not in itself. Laundering requires the assets to come from a crime and that origin to be known. Lack of justification may be an indication, but it is not enough for a conviction without proof of the crime the money came from.

Can my property be frozen during the investigation?

Yes. The judge can freeze assets and accounts to secure a possible confiscation. Those measures can be appealed, and it is worth doing so early.