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Commission Report (2002): Czech Republic
An amendment to the Act on Banks entered into force in May 2002 and
abolishes all existing anonymous accounts from January 2003. This ensures
compliance with the acquis in this area as well as with Recommendations of
the Financial Action Task Force. Under the Action Plan, the adoption of an
effective redress procedure for the settlement of disputes between banks and
customers as well alignment of legislation in the area of payment systems
were achieved by new legislation approved in 2002. The increase in staff at
the Financial Analytical Unit foreseen under the Action Plan, is under way.
The Accession Partnership priorities in the area of free movement of capital
have been met. Implementation of the measures under the Action Plan is
largely on track.
© European Commission
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