Czech Republic: Report on Observance of Standards and Codes FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2004/046, IMF Staff Country Reports from International Monetary Fund

Abstract: The Czech government has made impressive progress in bringing the antimoney laundering (AML) regime of the Czech Republic into compliance with both European and international standards. The Czech government has undertaken important steps toward completing the legal and institutional framework to fight money laundering, and has begun concrete implementation of the AML regime in the various relevant financial sectors. Further efforts by the government to improve the country’s AML legal and institutional framework and effective supervision have resulted in the enactment of major legislation.

Keywords: ISCR; CR; authority; FATF AML; AML Act; AML regime; prosecution authorities; State supervision; confiscation regime; FAU transaction report; Anti-money laundering and combating the financing of terrorism (AML/CFT); Money laundering; Terrorism financing; Legal support in revenue administration; Europe; Asia and Pacific (search for similar items in EconPapers)
Pages: 72
Date: 2004-02-26
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