Spain-based financial institution CaixaBank has received a EUR 30 million fine from the Anti-Money Laundering Supervisory Authority (Sepblac) over AML failings.
Representing one of the most significant AML penalties imposed in Spain, the fine comes as a result of a real estate deal from nearly a decade ago, which involved the sale of a Madrid skyscraper.
Under resolution BOE-A-2025-26201, a fine of EUR 17.6 million was published in the Official State Gazette (BOE) on 11 December 2025. This penalty was disclosed to the public; however, reports suggest that additional fines linked to the same case bring the total amount which CaixaBank has to pay to more than EUR 30 million.
Background, AML failings, and further implications
Sepblac’s regulatory action is related to the 2016 sale of the Torre Foster, a skyscraper in Madrid. The deal included Bankia, a lender that CaixaBank bought back in 2021, selling the building to Amancio Ortega, the founder of Inditex, for nearly EUR 500 million.
Spanish authorities have been looking into the transaction for potential compliance violations, particularly related to AML and due diligence procedures. According to reports, Sepblac imposed the fines on CaixaBank for infringing AML rules, specifically for violating regulations on the prevention of money laundering and the financing of terrorism.
With these investigations, it was discovered that Bankia, before being acquired by CaixaBank, did not report suspicious activity even after an employee had flagged concerns about potential money laundering. Additionally, authorities found that the bank failed to impose due diligence on high-risk clients, as well as overlooked suspicious transaction alerts. Allegedly, the deal involved the former chairman of Cepsa, Khadem al-Qubaisi, who reportedly utilised a network of shell companies and offshore accounts to conduct the acquisition and resale of the skyscraper. Through this, he managed to conceal illicit capital flows.
CaixaBank responds
According to reports, CaixaBank has mentioned that it has appealed the fines. However, the financial institution declined to comment further on the matter. A similar approach has been taken by the Economy Ministry, which oversees Sepblac.
