CaixaBank Hit with One of Spain’s Largest AML Fines Over Old Bankia Deal
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CaixaBank has been fined more than €30 million by Spain’s money laundering watchdog, one of the largest penalties of its kind in the country.
The case traces back nearly a decade. It centers on a 2016 real estate deal executed by Bankia, which CaixaBank acquired in 2021.
Bankia sold one of Madrid’s tallest skyscrapers to fashion billionaire Amancio Ortega for roughly €500 million. Regulators later flagged potential gaps in anti-money laundering controls and due diligence around the transaction.
The largest single fine, €17.6 million, was officially published in Spain’s Official Gazette in December, with additional penalties bringing the total above €30 million.
It’s another signal that regulators are digging deeper into legacy transactions, especially high-value real estate deals involving major institutions and high-net-worth buyers.
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NEWS
🇪🇸 CaixaBank fined by Spain’s money laundering watchdog on skyscraper sale. CaixaBank was handed several fines totaling more than €30 million ($35 million) combined. Read more
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