Protect Your Investment with an Effective Criminal Compliance Program in Spain and Catalonia
In an increasingly complex business environment, where criminal law extends into new areas of economic activity and regulatory scrutiny intensifies, proactive legal protection is no longer optional—it is a strategic necessity. Globalization, operational digitalization, and public pressure for transparency have placed companies—and, by extension, their investors—under unprecedented levels of oversight.
Today, protecting your investment does not simply mean choosing a good project, analyzing profitability, or diversifying financial risk. It also means anticipating legal and criminal risks that could directly affect the company in which you place your capital. A criminal investigation may arise not from malicious intent but from an internal error, a lack of oversight, or the misconduct of an employee.
What many investors are still unaware of is that in Spain, since the 2010 reform of the Criminal Code, a company may be held criminally liable for offences committed within its organizational structure. This liability can result in severe economic sanctions, disqualification from contracting with public authorities, the loss of critical licenses, the shutdown of business operations, or even the dissolution of the legal entity.
This is where Criminal Compliance comes into play: a structured system of prevention, supervision, and response to legal risks, designed to prevent criminal acts within a company and, if they occur, to demonstrate before a court that the company acted diligently and responsibly. In other words, it is not just about complying with the law—it is about shielding your investment from irreversible legal and reputational damage.
As criminal lawyers specialized in regulatory compliance in Spain and Catalonia, we have witnessed how a solid preventive strategy makes the difference between a controlled crisis and a legal catastrophe. Implementing a criminal compliance program not only protects the company—it directly protects those who finance, support, and believe in its long-term viability.
What Is Criminal Compliance and Why Should It Matter to You as an Investor?
Criminal compliance is much more than a set of internal rules: it is a comprehensive legal prevention strategy designed to detect, control, and prevent conduct that could constitute a criminal offence within a company. Its main purpose is to establish a preventive defence mechanism capable of demonstrating—to the Public Prosecutor’s Office or a court—that the company acted with due diligence and responsibility to avoid criminal infractions.
An effective compliance system includes tools such as:
- Specific protocols for high-risk areas (procurement, payments, interactions with public authorities...)
- Confidential and secure whistleblower channels
- Internal financial controls and regular audits
- Ongoing training for employees and management
- Appointment of a compliance body to oversee the system’s operation
Since the 2010 reform of the Spanish Criminal Code, companies (legal persons) may be held criminally liable for offences committed by their managers, employees, or collaborators if preventive measures are not implemented. This criminal liability is not merely theoretical: every year, thousands of proceedings are initiated against companies for offences such as corruption, money laundering, tax fraud, environmental crimes, or consumer protection violations.
However, there is a crucial safeguard: if a company can prove that it had an effective criminal compliance program in place, it may be exempt from criminal liability or benefit from significantly reduced penalties.
As an investor, this is essential. It means you are not automatically exposed to the criminal consequences of a company’s actions simply because you hold shares or financial interest. Criminal compliance is the firewall that separates an isolated misconduct from a widespread indictment that could implicate you and compromise your assets, reputation, or other business ventures.
In short, criminal compliance not only protects the daily operations of a company. It protects your name, your money, and your ability to invest safely and sustainably.
Fictitious Case Study: How a Compliance Program Saved an Investor from Criminal Charges
Let us imagine Miguel, a businessman with an impeccable track record and a diversified investment portfolio. Attracted by the growth potential of the tech sector, he decides to invest in a startup based in Barcelona that develops artificial intelligence solutions for the healthcare industry. After reviewing the financial statements and analyzing the business plan, Miguel joins as a financial partner, placing full trust in the management team.
Six months later, just as the project begins gaining media attention, an unexpected incident occurs: a sales department employee, eager to close a major deal, offers financial incentives to an executive at a supplier company. This seemingly isolated act is detected by an internal audit and reported through the anonymous whistleblower channel established by the company as part of its compliance program.
Within days, the compliance team activates the relevant protocol: an internal investigation is launched, the employee's actions are documented, the facts are proactively reported to the Public Prosecutor’s Office, and the preventive controls are reassessed.
Because the company had a robust criminal compliance program in place, which included:
- Regular training for all employees
- Clear protocols for high-risk activities
- A transparent disciplinary system
- Documented traceability of all actions taken
The authorities were able to confirm that there was no systemic tolerance for unlawful conduct. On the contrary, the organization reacted swiftly and seriously, demonstrating its commitment to legality.
Outcome: the company was not indicted, the case was dismissed at an early stage, and the corporate image remained intact. Miguel, for his part, not only preserved his investment but also strengthened his trust in the company. The prompt management of legal risk became an added value and a reputational advantage in the eyes of other investors.
This fictitious case reflects a realistic scenario: a single wrongful act can jeopardize years of effort, but with an effective compliance system, it is possible to contain the damage, avoid indictment, and protect both the company and its investors.
How Is a Criminal Compliance System Implemented in a Company?
Contrary to popular belief, a criminal compliance program is not a generic template or a bureaucratic formality to check off a list. It is a personalized, ongoing, and strategic process that must reflect the company’s operational reality, size, and specific risk exposure.
Implementing an effective criminal compliance system means building a culture of prevention, equipping the organization with solid legal tools, and establishing detection and response channels. All of this aims to minimize criminal risk, protect executives, and ensure business continuity.
1. Risk Assessment and Diagnostic
The first step is to carry out a full criminal-risk diagnostic of the company. This involves analyzing:
- The organizational and hierarchical structure
- High-risk areas (e.g., public procurement, financial operations, third-party relationships)
- Past incidents or legal disputes
- The regulatory framework applicable to the company’s specific sector
Through interviews, document analysis, and joint working sessions, potential offences that could arise in the company’s context—whether by action or omission—are identified. These may include bribery, tax fraud, corruption, disclosure of trade secrets, environmental crimes, or money laundering.
This risk assessment is essential: there is no effective prevention without a clear understanding of the real risks.
2. Design of the Compliance Program
Based on the diagnostic, a tailored system is developed to meet the company’s needs. There are no “standard programs”: each organization requires specific measures depending on its sector, size, structure, and activities.
The program design includes:
- Internal protocols and policies
- Procedures for decision-making and authorizations
- Effective financial control systems
- A clear and operational code of ethics
- A whistleblower channel with appropriate guarantees
- A proportional and enforceable disciplinary regime
All of this aims to establish an operational framework that prevents criminal conduct and provides documentary evidence of due diligence in the event of inspections or investigations.
3. Training and Awareness
The success of a compliance program depends on its practical implementation, which is only possible if those involved understand the reasoning behind each measure. That is why training is essential.
Training programs are adapted to the level and role of each employee, with specific sessions for executives, middle management, and operational staff. Real case studies, ethical dilemmas, risk identification, and the correct use of the established channels are addressed during the sessions.
Furthermore, a culture of compliance is promoted, where respect for the law is seen as a shared value rather than an external imposition.
4. Supervision, Monitoring, and Continuous Improvement
A well-designed program that is not monitored loses all its legal and operational effectiveness. Therefore, the system must include mechanisms for regular review and ongoing updates.
This involves:
- Internal and external audits
- Cross-check controls
- Ongoing regulatory updates
- Risk map reviews when circumstances change (growth, mergers, internationalization, etc.)
- An annual compliance report issued by the compliance body
In this way, the program becomes a living system, capable of adapting to environmental changes and serving as solid evidence of the company’s good faith in case of a criminal investigation.
Real Benefits of Criminal Compliance for Investors
Implementing a criminal compliance program is not just a “legal expense.” It is a strategic investment with measurable returns:
- 💼 Direct protection against criminal penalties
- 🔒 Reduction of reputational risk
- 📈 Greater confidence from partners, clients, and investors
- 🧾 Improved position in public tenders and with financial institutions
- ⚖️ Possibility of exemption or mitigation of criminal liability
Criminal compliance is no longer optional: it is a requirement for any company that seeks to operate with legal security and reputational soundness in Spain. And for you, as an investor, it is the guarantee that your capital will not be exposed to scandal, investigation, or unexpected indictment.
At our law firm, based in Catalonia and operating throughout Spain, we help companies and investors sleep soundly, knowing they have a solid legal shield in place.
👉 Do you want to protect your investment before problems arise?
Contact us for an initial assessment and start building your legal protection today.