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 this decree to establish specific requirements for institutions under its supervision regarding their internal rules, procedures, and control measures against money laundering and terrorist financing. It mandates that institutions implement risk-based customer due diligence, maintain current risk assessments, and apply enhanced due diligence measures for high-risk scenarios such as politically exposed persons or opaque ownership structures. The regulation further defines terms, outlines the scope of application, and requires institutions to regularly evaluate and update their internal regulations to reflect changes in risk profiles, business activities, and legislation.
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