Reporting obligation

Suspicious transaction report (STR) and its reporting is stipulated in Section 18 and 19 of the AML Act. The obliged entity reports to the FAU without unnecessary delay any suspicious transaction it has detected in the course of its business activity. Should the circumstances of the case so require, in particular, should there be a danger of delay, the obliged entity reports the suspicious transaction immediately upon its detection.

In the STR, the obliged entity provides

• identification data of the subject of the report,
• available identification data of all other subjects involved in the transaction,
• information about circumstances of the transaction including date, amount, etc.
• information about the execution or postponement of the transaction
• contact details of the obliged entity including connection capability to receive instructions from the FAU
• attachment of the relevant documents
• any other information which may be relevant to the suspicious transaction and for its assessment in terms of AML/CFT.

On the following link https://fau.gov.cz/oznameni-o-podezrelem-obchodu you will find all the necessary information concerning the submission of suspicious transaction report. There are two ways to report STR:

• through so-called MoneyWeb which is an encrypted electronic platform of the FAU for communication with obliged entities, or
• through filling out STR form, which you can then send to the FAU by data box (preferred variant) or personally handing over the written form during office hours at FAU premises.

STR must be reported to the FAU in Czech (Slovak) language according to Section 16 of the Act No. 500/2004 Coll. Code of Administrative Procedure: „Communication within the procedure shall be carried out and documents executed in the Czech language. Parties to the procedure may also communicate and file submissions in the Slovak language“. In other words, all submissions (i.e. suspicious transaction report) towards the FAU must be in Czech (or Slovak) language.