As of 1 February 2025, the requirement to register a contact person for all AML obliged persons will come into force. This provision is laid down in § 22 of Act No. 253/2008 Sb. on Measures against Money Laundering and Terrorist Financing (AML-Law). All companies and entrepreneurs belonging to AML obliged persons are obliged to designate a contact person and register him/her with the Financial Analysis Unit (FAÚ).
!!! Deadline for submitting the notification
Previously registered AML obliged persons must file a notice by 3 March 2025.
In the future:
— New AML obligated persons must file a notice within 30 days of commencing their activities subject to the AML policy.
— If the contact person or their details change, updated information must be submitted within 15 days.
— If a company has ceased operations or is no longer an AML obligated person, it must notify FAÚ of the change within 15 days, otherwise its obligations continue.
Registration takes place only electronically via the datová schránka system (company e-mail box) using the official form of the Czech Ministry of Finance.
From 1 February 2025, this form is available online at https://formulare.fau.gov.cz/.
If the contact person was registered before February 2025, you must resubmit the notification through the new official form
Who is obliged to register a contact person?
AML obliged persons include companies and entrepreneurs operating in the following areas:
— Currency exchange and financial transactions (including the purchase and sale of debt);
— Consulting services (capital structures, industrial strategy, mergers and acquisitions);
— Real estate (realtors, real estate agencies, buying and selling properties);
— Audit, accounting and tax consulting;
— Second-hand goods trade and pawnshops;
— Services related to virtual assets and cryptocurrencies (including activities under MiCA regulation);
— Other activities covered by the AML Act.
Who can act as a contact person?
A contact person is an employee of the company or a member of its management responsible for liaising with FAÚ.
— In the case of an individual entrepreneur (OSVČ), the contact person may be the entrepreneur himself.
— In the case of a company, the contact person should be an employee or board member responsible for AML processes.
The contact person is responsible for:
— Fulfilment of reporting responsibilities to FAÚ.
— Interaction with FAÚ when suspicious transactions are identified.
— Timely provision of information as part of AML procedures.
What must be stated in the notification?
The AML obliged person must pass the following information to the FAÚ:
— The first and last name of the contact person.
— His position in the company.
— Contact details (phone, e-mail).
— The times at which the contact person is available for communication.
— The type of activity for which the company is related to AML obligated persons.
What are the AML obligations of the obligated persons?
- Registration of a contact person — mandatory notification to FAÚ.
- Customer identification — verification of identity.
- Customer control — control of customer data relevance at least once a year.
- Transaction analysis — identifying suspicious financial transactions, controlling the source of income.
- FAÚ Alert — immediate reporting of suspicious transactions.
- Record keeping — retaining customer and transaction information for at least 10 years.
- Employee training — ensuring knowledge of compliance with AML procedures at least once a year.
- AML’s internal policy is to compile and regularly review internal processes.
Responsibilities of accountants under the AML Law
Accounting firms and tax advisors in the Czech Republic were considered AML obliged persons before, from 2025 the obligations are extended to private accountants (OSVČ). This means that accountants are obliged to identify clients, request information on the origin of funds and report suspicious transactions to the FAÚ.
It is very important that entrepreneurs understand why an accountant may request additional information from them about financial transactions. This is not a whim of the accountant, but a legal requirement aimed at preventing financial crime. If an accountant fails to comply with the AML requirements, he or she faces a fine of up to 10 million kronor.
What transactions can be considered suspicious?
— An unusual or unreasonably large financial transaction occurs.
— The money is coming from or going to high-risk jurisdictions.
— Cash is used in suspicious amounts.
— The client refuses to provide information about the origin of the funds.
Why is this requirement imposed?
The main purpose of the new requirement is to strengthen control over financial flows and prevent money laundering. Until now, the FAÚ did not have a precise list of AML obliged persons, which made it difficult to control their activities. Now the regulator will have direct access to the contact details of the obliged persons, which will simplify checks and co-operation.
Penalties for non-compliance
Violation of the requirements of the AML Law may result in a fine of up to CZK 10,000,000. It is important to register a contact person in time and comply with the requirements of the FAÚ.
Conclusion
As of 1 February 2025, all AML obliged persons in the Czech Republic need to register a contact person. This applies to accountants, tax advisors, realtors, exchange offices, cryptocurrency traders and other business areas.
If you need help registering a contact person or clarification of AML obligations, contact us — we can provide professional support and help you avoid penalties.
