CZECH REPUBLIC: MONEYVAL AML/CFT FOLLOW-UP REPORT

On 26 August, the Council of Europe’s MONEYVAL body published the June 2020 1st enhanced follow-up report which says that the country has improved measures to combat money laundering and terrorist financing, but still needs to make progress in certain areas.  The original mutual evaluation took place in 2018.  To date, the Czech Republic has reached a level of full compliance with 5 of the 40 FATF Recommendations, which constitute the international AML/CFT standard. The country still has minor deficiencies in the implementation of another 24 Recommendations, and larger-scale deficiencies for the remaining 11. The Czech Republic will remain in enhanced follow-up and will continue to report back to MONEYVAL on progress to strengthen its implementation of AML/CFT measures and is expected to report back in 1 year’s time.

https://rm.coe.int/moneyval-2020-8rev-sr-5th-round-fur-cz/16809ef776

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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