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 systems for preventing money laundering and terrorist financing. It mandates the implementation of risk assessment procedures, customer due diligence measures, and internal controls that are proportionate to the nature, scale, and complexity of the institution's activities. The regulation defines terms such as opaque ownership structures and outlines enhanced due diligence obligations for high-risk customers, including those from high-risk jurisdictions or politically exposed persons.
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