Regulatory Alerts2018-04-11
Decree No. 67/2018 Coll. on requirements for internal rules against money laundering and terrorist financing
The Czech National Bank issues Decree No. 67/2018 Coll. to establish specific requirements for institutions under its supervision regarding the implementation of internal rules, procedures, and control measures against money laundering and terrorist financing. The decree mandates that these institutions conduct comprehensive risk assessments, determine customer risk profiles, and apply appropriate customer due diligence measures, including enhanced procedures for high-risk scenarios. It further defines key terms, outlines the scope of application, and requires institutions to maintain current internal regulations that reflect the nature, scale, and complexity of their activities.
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