Weinhold Legal (Czech Republic) Article: Amendment to the AML Act

Weinhold Legal released an article detailing the Bill amending Act No. 253/2008 Coll, on Certain Measures against the Legalization of the Proceeds of Crime and the Financing of Terrorism, as amended (hereinafter referred to as the “AML Act” and the “Amendment”), which was submitted to the Chamber of Deputies by the Government, aims to implement the measures contained in the Action Plan to the Report on the Second Round of the National Risk Assessment of Money Laundering and Terrorist Financing, to eliminate selected shortcomings identified in the evaluation by the Moneyval Committee of the Council of Europe and, last but not least, to eliminate the shortcomings of the AML Act that have manifested themselves in application practice.

Click HERE to view the PDF.