AML (Anti-Money Laundering)

AML is an acronym from the English “Anti-Money Laundering”, which in translation means anti-money laundering measures. It is a set of laws, regulations and measures that aim to prevent the abuse of the financial system to legalize the proceeds of crime and to finance terrorism. In the Czech Republic, AML is governed in particular by Act No. 253/2008 Coll., on certain measures against the legalization of proceeds of crime and financing of terrorism (so-called “terrorist financing”). AML Act), as amended, which imposes a number of obligations on so-called obligated persons. These compulsory persons are defined in Section 2 (1) of the AML Act and include, for example, banks, insurance companies, investment companies, exchange offices, real estate agents, solicitors and notaries.