Introduction...

Analysis is the fundamental and most important activity of the FAU in fulfilling its core task of protecting the financial system of the Czech Republic from abuse for money laundering and terrorist financing. FAU has the full responsibility for the effective and functional setup of measures against money laundering (AML or the “legitimization of proceeds of crime”) and countering terrorist financing (CFT). Analytical work is carried out at the operational and strategic level. As part of the operational analysis, suspicious sansactions reports are received and analysed, followed by the dissemination of the results of analysis to the competent authorities. Strategic analysis represents a higher level of generalization of the findings, analysis of ML/TF trends and formulation of recommendations for future practical or legislative development.

A suspicious transaction is the key concept for analytical work. The legislation has entrusted the detection of suspicious transactions to obligated persons, i.e. especially banks and other financial institutions, but also a number of other entities defined by law. The operational analysis is carried out by the FAU, which, in addition to its position as guarantor, is also a crucial executive body in the entire system of AML/CFT measures in the Czech Republic. The aim of the analysis is to verify initial suspicions detected by the obligated entities, while at the same time obtaining further information necessary for the decision on further action. In addition to information from obliged entities, the FAU may request information from the Police of the Czech Republic, tax administration authorities, intelligence services and other public authorities for the purposes of its investigation. Access to a wide range of records and registers, effective use of open sources and exchange of information with foreign FIUs are also effective tools for investigation.