The AML Act cannot be avoided by splitting a payment
If you are subject to the obligations arising from Act No. 253/2008 Coll. ("AML Act"), in particular the obligation to identify and control clients, you may have already thought about the possibility of splitting a transaction that would otherwise exceed the amount for which client identification or control is required into smaller parts. According to a recent decision by the Financial Analytical Office, splitting a transaction in such a way is a violation of the AML Act and carries heavy fines! Therefore, the AML Act cannot be avoided by splitting the transaction into parts!