I am moved by the stories of people who, in the coronavirus times, show solidarity with others and invest their time and money to help others. These people show that humanity is their moral value.
The line between good and bad is very thin and omnipresent. Virtually anyone crosses it now and then, but the people I’m talking about above don´t.
A member of the District Council in Prague 8 who, at the time of the pandemic, negotiates a deal which gives him a kickback from procurement of highly needed disinfectants to be used by premises such as schools and hospitals (link to the article), is a corrupt hyena. From the point of view of anti-money laundering measures, however, it is just yet another part one the mosaic.
The obliged entities are neither Police officers nor judges; they make decisions based on indicative signs, not evidence. Individuals who will be detected as suspects in the above case should be thoroughly examined by all financial and non-financial institutions they have been clients of. Surprisingly enough, obliged entities often have better capacity and show more efficiency than the law enforcement bodies (the Police and prosecutors).
The obliged entities should proactively report, via the Financial Analytical Authority or directly to the law enforcement bodies, their findings concerning suspicious individuals. Such an approach can help accelerate the investigation process significantly.
Have you read Janek Kroupa´s article? Do you think that Juraj Pavol paid for his silver Porsche with legally earned money? How does this mosaic look like?
The AML Act provides the obliged entities with a powerful tool to combat crime consistent and smart use of which can improve the lives of those who are putting their health at risk now and invest their time and money to our future well-being.
The capacity of “obliged entities” to face and exert coordinated pressure against organized crime is described in the footnote.
In the upcoming texts, I will explain to registered readers how we can not only attempt to seize a luxury Porsche and other traceable property from a suspect but what we can do to succeed in this exercise.
Having the intentions of the lawmakers in mind, I still don’t like the term “obliged entity”. Most people dislike having duties and obligations and the counter money laundering law should be based primarily on the will and a responsible approach. When I appeal on “obliged entities” to take action, and I want to explain this to clarify the term to those who are not sure which entities I´m referring to, I am not only talking to hundreds of bank employees and savings and credit unions; I´m turning to thousands of responsible people working at entities such as investment brokers, investment service providers, investment societies and funds, pension funds, small payment institutions, and payment service providers, electronic money transfer providers, leasing companies, receivables traders, exchanges, postal service providers, consultants of all sorts – capital structures, industrial strategies, mergers and procurement of legal entities, money brokers, providers of safety deposits, gambling and betting operators, real estate agents, auditors, tax advisors, accountants, bailiffs, notaries, lawyers, traders offering turnkey business solutions, trustees, cultural heritage dealers, used goods´ stores and pawn shops. I’m sorry if I’ve forgotten anyone, but it’s obvious from this long list that none of the criminals can do without at least one of you guys. Let’s learn together how to use various tools for safer and healthier society.
AML officer with more than 16 years of experience in the anti-corruption police.
In the rank of colonel, he headed a special department, which was the recipient of criminal reports to the FAU.
He was repeatedly awarded for the fight against money laundering, he served as a member of the Czech negotiating team in defending the AML measures taken at the Council of Europe in Strasbourg.
For 6 years, it has been successfully providing services in the private sector across the spectrum of liable persons.