By: Olga Králíčková
June 3, 2025 5 min read
Act No. 253/2008 Coll., on Certain Measures against the Legalization of Proceeds from Crime and Terrorist Financing (the “AML Act”) has been amended several times since the beginning of last year. Among other things, this is due to the need to take into account the changes brought about by the new AML package of the European Union and the new Regulation (EU) 2023/1114 of the European Parliament and of the Council on Markets in Crypto-Assets, the so-called “MiCA”.
The providers of services related to virtual assets (as crypto-assets are referred to in European legislation) are newly obliged persons under the AML Act. However, this only applies where they provide a service associated with a virtual asset, i.e. not, for example, mere consulting. A new Chapter VI has been added to Part Two of the Act, which sets out the rules for the authorisation of virtual asset services.
The issue of unhosted addresses is now taken into account. A non-hosted address, under European legislation, is an address of a distributed ledger that is not associated with (i) a cryptoasset service provider or (ii) a non-EU based entity that provides services similar to those provided by a cryptoasset service provider. In cases of transferring cryptoassets to or from a non-hosted address, the provider of the virtual asset services is obliged to assess the potential risks. Trading with a non-hosted address is now also a factor in determining a client’s risk profile under Decree No.67/2018 Coll., on certain requirements for a system of internal policies, procedures and control measures against the legalization of proceeds of crime and terrorist financing.
However, the amendments do not only concern crypto-assets, some definitions have also been changed. For example, a business relationship is now understood to be not only contractual but also professional in nature. This will affect e.g. notaries who perform AML duties by law and not by contract. Furthermore, in compliance with EU legislation, the statutory body has been replaced by a management and control body among politically exposed persons.
Another purpose of the amendments was to clarify some previously unclear provisions. The obligation of the obliged person to evaluate information and identify suspicious trade, which was previously rather implied, is explicitly reformulated. The amendment also clarifies the contact person that the obliged entity must appoint for the purposes of communication with the Financial Analytical Office (“FAO”). The new obligation is to be available during the business hours of the obliged entity and when the obliged entity is conducting business. The deadlines for informing the FAO about changes to the contact person’s details have also been shortened.
The amendment also extended the statute of limitations for serious offences with an upper limit of at least CZK 1,000,000 to 5 years. The reason for this was to align the FAO’s statute of limitations with the Czech National Bank, which also has jurisdiction over this type of offence.
The changes listed are only the beginning. As the European AML package gradually takes effect, obliged entities will have additional obligations to keep up with.
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