Financial Analytical Unit gives all-time high fine

According to the information stated on the website of the Ministry of Finance of the Czech Republic and the Financial Analytical Unit (FAU) itself, the decision of the Municipal Court in Prague from January 2018 has confirmed the right of the FAU to impose an all-time high fine (2.5 million CZK). This fine was imposed in connection to Act No. 253/2008 Sb., on selected measures against legitimisation of proceeds of crime and financing of terrorism, when the person, a provider of payment services, has not fulfilled their obligation to identify their client and report suspicious trade, the character and amount of which was outside the bounds of all the preceding financial operations.