Regulatory Alerts2018-04-11
Decree No. 67/2018 Coll. on Requirements for Internal Rules Against Money Laundering and Terrorist Financing
The Czech National Bank issued Decree No. 67/2018 Coll. to establish specific requirements for institutions under its supervision regarding their internal systems for preventing money laundering and terrorist financing. The decree mandates that these institutions implement risk-based procedures for customer due diligence, including enhanced measures for high-risk profiles and strict rules for assessing beneficial ownership. It further requires institutions to maintain current internal regulations that reflect national and European risk assessments while ensuring effective monitoring and management of illicit financial activities.
Share