DIFFERENT ANGLE by Kenneth Rijock
Spanish prosecutors recently filed a lawsuit with the Supreme Court against the newly-formed Basque political party, Abertzale Sozialisten Batasuna, also known as ASB, alleging that it is merely a successor to the banned Batasuna, known to be a political wing of the designated terrorist organisation, ETA. ASB, whose name means Patriotic Socialist Union in English, actually registered for the purpose of advancing candidates for municipal elections. Spanish authorities allege that ASB is merely a continuation of Batasuna, which was rendered illegal through court action in 2003, and is designated as a terrorist organisation by the European Union.
Money laundering reporting officers and compliance officers in EU countries should carefully check recent new accounts opened for Spanish organisations where the name of the entity is a variation of any of the following:
- Abertzale Sozialisten Batasuna
- ASB
- Batasuna
- Patriotic Socialist Union
Spanish-speaking staff members familiar with regional accents can also be of great assistance in identifying possible individuals from the Basque area of Spain, and you are encouraged to enlist their assistance in interacting with the prospective customers, where suspicions arise during account opening.
The facts and opinions stated in this article are those of the author and not those of World-Check. World-Check does not warrant the accuracy of any facts and opinions stated in this article, does not endorse them, and accepts no responsibility for them.
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