Spain: Notaries monitor the business of 39,400 politicians and relatives to avoid corruption

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Spanish Notaries have developed new measures to prevent politicians from embezzling public funds or engaging in money laundering activities. Already, they have identified 3,437 people with public responsibilities, their partners, and their relatives and subject their businesses to proper monitoring to avoid illicit transaction of money. The notary council had developed a large database two years ago as required by legislation, and gives direct access to state security forces, the prosecutor’s office, and judges to access profile and companies information of individuals with political responsibility.

All entities responsible for fighting money laundering has the right to put natural persons in political positions under special surveillance. Already, 22,467 people with political duties have been identified in the database and will remain in the database until 2 years after they leave the office. In order to keep a close monitoring on these people, 16,970 people who are close relatives and business partners/associates are also included in the database. People who manage companies or those who have at least 25% capital and voting right are considered as real owners. A database containing their details have been existing since 2012; it is from this that the new database of politicians was formed two years ago.