Structural Reform Support Programme (SRSP) Project on: “Enhancing effectiveness of the AML/CFT regime in the Czech Republic”

Within the framework of the 2020 CoE/EU Structural Reform Support Programme (SRSP) envelope, the Economic Crime and Cooperation Division is assisting authorities in the Czech Republic to enhance the effectiveness of the AML/CFT regime in the Czech Republic through a comprehensive understanding of national risks and by improving enforcement of the AML/CFT in the new and/or weaker elements of the system. The project begun on 29 June 2020, and will last for 24 months. Through tailored activities, the project seeks to contribute to:

• Providing the authorities with a greater understanding of AML/CFT risks in areas of licensing and market entry and proliferation financing; and
• Enhancing AML/CFT cooperation and enforcement.

Areas of specific focus include implementation of the National ML/TF Risk Assessment (NRA) in selected areas, guidance and awareness raising on the findings of the NRA, NPO AML/CFT self-risk assessments, legal and advisory services, virtual assets, and regulatory solutions concerning due diligence and oversight.

The total project budget is 595,639.85 Euros. The project was funded by the European Union via the Structural Reform Support Programme and implemented by the Council of Europe - Economic Crime and Cooperation Division, in cooperation with the European Commission.