MONEYVAL: Czech Republic has Made Progress on AML/CTF Compliance

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MONEYVAL: Czech Republic has Made Progress on AML/CTF Compliance

MONEYVAL has assessed the progress made by the Czech Republic on the FAFT Recommendations. MONEYVAL has recorded the progress was made on the improvement of mechanisms for national cooperation and coordination to tackle money laundering and terrorism financing, the strengthening of countermeasures against countries and jurisdictions which represents a high ML/TF risk, and the removal of regulatory gaps for correspondent banking relationships which will ensure and improve the transparency of bank-to-bank transactions.

Until now, the Czech Republic is only fully compliant with 5 of 40 FATF Recommendations.

MONEYVAL conducted its last review in August 2020.

Eltoma Corporate Services is providing a range of services relating to AML/CFT checks for clients and partners in various parts of the world.