The Spanish Government plans to collect data on all of the country’s 34 million bank accounts in what it calls a bid to crack down on money laundering and terrorist activity. But the move has drawn plenty of fire.
Spain plans to set up a German-style archive of data on the financial activity of Spaniards and residents in Spain, national daily El País reported on Sunday
The move will see banks having to supply details of all the personal and business current accounts, savings accounts and fixed-term accounts they hold to the Secretary of State for the Economy.
Groups including the Tax Office, the military, the General Council of the Judiciary and the secret services will then be able to access that information.
Transactions over €1,000 ($1,370) will be flagged if suspicious, while all transactions over €30,000 can be checked. Transfers of over €3,000 a month will also come under the spotlight, according to the new rules. Continue reading
Hizbullah has asserted that its only means of financial and military support stem from Iran.
Hizbullah secretary-general Hassan Nasrallah said Iran marked the sole supplier of the Shi’ite militia in Lebanon. Nasrallah said Hizbullah was not engaged in illicit financial activity, including drug trafficking and money-laundering.
“We have been receiving since 1982 all kinds of moral, political and material backing from the Islamic republic of Iran,” Nasrallah said.
In a television address on Feb. 7, Nasrallah issued the first claim that Iran was the sole backer of Hizbullah. The Shi’ite militia chief did not explain why Hizbullah was announcing Iranian sponsorship.
“In the past we alluded partially to this truth,” Nasrallah said. “We used to speak of a moral and political support while keeping silent when questioned about our military backing so as not to embarrass Iran. But today, we have decided to speak out.”
Full article: Hizbullah for first time announces Iran as sole source of funding, arms (World Tribune)