Money laundering, or money laundering, is an act that seeks to disguise the illegal origin of money and give the impression that it is legally acquired money.
Legislatively, such conduct is covered by Acts No. 253/2008 Coll. (Act on Certain Measures against the Legalization of Proceeds from Crime and Terrorist Financing) and No. 67/2008 Coll. (Decree of the Ministry of Finance on certain requirements for the system of internal principles, procedures and control measures against money laundering and terrorist financing).
Legalization of proceeds means actions that seek to cover up the illegal origin of the proceeds in order to give the impression that the income is acquired in accordance with the law. That conduct consists in particular of:
in the conversion or transfer of property, knowing that such property is the result of criminal activity, for the purpose of concealing or concealing its illegal origin or for the purpose of assisting a person engaged in such activity to escape the legal consequences of his or her conduct,
in the secrecy or concealment of the true nature, source, location, disposition and movement of property or alteration of rights relating to property, knowing that such property is derived from criminal activity,
in the acquisition, possession, use or disposal of property, knowing that such property is derived from criminal activity,
in the association of persons for the purpose of committing the acts mentioned above.
Identification of the trade and its participants
If a financial institution enters into a transaction in excess of EUR 15,000, it is required to identify the participants in the transaction. If the exact amount of the entire transaction is not known at the time of the conclusion of the transaction or at any later time, the said obligation arises at the time when it is clear that the set limit will be reached; if the transaction is carried out in the form of a recurring performance, the sum of partial performances for twelve consecutive months is decisive.
Suspicious transactions can be identified, for example, by:
continuous monitoring of transactions by a counter or other employee of the financial institution, with emphasis on the frequency and extent of deviations from the normal regime,
monitoring operations in the financial institution's information system, ongoing contacts with the customer and informing the employee of the financial institution about the customer's environment (personal meetings, visits to foreign countries, etc.),
Third party information (print, internet, economic software eg Ariadna, etc.) As the successful identification of a suspicious transaction is primarily dependent on the customer's knowledge, it is influenced by other factors, such as individual experience of a counter, private employee of a financial institution dealing directly with the customer. the quality of the financial institution's information system, the availability of customer information and the possibility of verifying it.
Symptoms of suspicious transactions
Customer identification issue.
The customer requests or offers unusual conditions.
The transaction is atypical for the customer.
For unknown reasons, the customer is nervous during personal contact.
The customer is accompanied and monitored (especially when handling cash).
The customer acts as an intermediary.
There is no obvious economic, factual or legal reason for the transaction or its recognizable relationship to the customer's normal business activities.
Unusual ways to transfer more cash.
Efforts to minimize contact with the financial institution and to authorize other persons to do so on the basis of powers of attorney.
The customer is an entity from the so-called risk territories or tax havens.
The transaction is opaque in terms