Central Registry of Accounts

In August, the Senate approved a draft bill on the Central Registry of Accounts, the passing of which was recommended by the European Commission following the arrangements for fighting terrorism. As we have already informed you earlier, this is a register of all bank accounts (local and foreign) of persons and legal entities, which will be kept by the Czech National Bank. The aim of the central registry is to enable the bodies active in criminal proceedings, tax administrators, the intelligence services etc. to gain information about all bank accounts of a suspected subject within 24 hours. The draft bill was approved by the Senate on August 24, 2016, and the president signed the bill on September 6, 2016. The bill was published in the collection of laws under the number 300/2016 Sb., the act on Central Registry of Accounts, and comes into effect on October 6, 2016. The Czech National Bank will announce the beginning of recording accounts in the registry on its notice board. The registry will probably be launched into operation in the middle of the year 2018.