Anti-money laundering

Financial institutions are obliged to report unusual financial transactions ("UFT") to the Financial Intelligence Unit (Finančná spravodajská jednotka) without any undue delay as set forth in Article 17(1) of Act No. 297/2008 on the prevention of legalization of proceeds from criminal activity and terrorist financing ("Act No. 297/2008 Coll.").

Act No. 297/2008 Coll. defines a UFT, under Article 4(2)(l), as a transaction where there is a reasonable assumption that the customer or beneficial owner is a person on whom international sanctions are imposed under Act No. 289/2016 or a person who might be related to that person, and, under letter m), as a transaction where there is a reasonable assumption that its subject is or is to be an object or a service that may relate to an object or a service on which international sanctions are imposed under Act No. 289/2016.

Banks and foreign bank branches are requested under the provision of Article 91(8) of the Banks Act No. 483/2001 Coll. to provide the MF SR in time limits set thereby (quarterly) with a list of clients which are subject to international sanctions implemented in accordance with Act No. 289/2016 Coll. and the applicable EU regulations. The provided list also includes the account numbers and the balance in the accounts of such clients (the so-called sanctioned persons). Upon identifying their clients as sanctioned persons, banks shall notify the MF SR of their findings in the time limits set by the MF SR.