November 5 2019
The National Court has confirmed a sanction of 500,000 euros for Caja Rural Castilla La Mancha for missing its duty to report operations suspected of money laundering to the competent authority.
Specifically, the entity has been sanctioned for not reporting on the more than 300 cash receipts worth more than eight million euros that one of its clients made in less than a year. Most of these revenues were made from a branch of a town of less than 5,000 inhabitants of Ávila. The only commercial activity known to the client suspected of laundering was the regency of a newly opened restaurant in Fuenlabrada, where he worked as a waiter and cook.
