70. Are reporting entities required to enforce enhanced due diligence policies and procedures regarding politically exposed persons?

Section 8. Identification. "(3) The obliged entity shall within the identification process check and record whether the customer is a politically exposed person or a person against whom the Czech Republic imposes international sanctions under the Act on Implementation of International Sanctions."

Section 9. Customer Due Diligence. "(1) The obliged entity shall perform the customer due diligence: a) prior to the execution of a transaction outside of a business relationship: 1. when it is obvious that the transaction amounts to EUR 15,000 or more at the latest, 2. with a politically exposed person, or 3. with a person settled in a country which is, based on a designation by the European Commission or for another reason, considered as high-risk, ..."

Section 15. Rejection of Transaction. "(2) The obliged entity shall not carry out a transaction with a politically exposed person, not even within a business relationship, if the origin of assets used in the transaction is unknown."

Source: Sections 8 (3), 9 (1) and 15 (2), Act No. 253/2008 on Selected Measures against Legitimisation of Proceeds of Crime and Financing of Terrorism, 2008