Jyske Bank Gibraltar

EU law, i.e. the   directive  on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing,  does not preclude Spanish legislation which requires credit institutions, operating in Spain without being established there, to forward directly to the Spanish authorities information necessary for combatting money laundering and terrorist financing.

Where there is no effective mechanism ensuring full and complete cooperation between the Member States which would allow those crimes to be combatted effectively, that legislation is proportionate.