Money laundering and terrorist financing are criminalised under the Czech Criminal Code as standalone crimes. The legalisation of the proceeds of crime is subject to imprisonment up to ten years. Terrorist financing is subject to imprisonment up to 15 years. Further sanctions, such as forfeiture of property etc., can be imposed.
Czech law recognises corporate criminal liability, therefore companies may also be criminally liable for money laundering and terrorist financing. There is a wide range of sanctions which can be imposed on legal entities, e.g. dissolution of the company, forfeiture of property, monetary penalty, and publishing the judgment.
The AML Act provides a range of sanctions for non-compliance with the key obligations and sets out individual fines and penalties depending on the type of infringement, the type of infringer (an individual or entity or type of entity, banks, insurers, etc.).
The Montenegrin Criminal Code recognises both money laundering and financing of terrorism as standalone criminal offences. Predicate crimes that are committed either in or outside Montenegro can support a money laundering charge brought in Montenegro.
The penalties prescribed in the Criminal Code for Money laundering are:
- imprisonment from six months up to 12 years depending on the sum of the laundered money and circumstances at hand as well as a fine; and
- the funds which were laundered will be confiscated.
The penalties prescribed in the Criminal Code for Financing terrorism are:
- imprisonment from one to ten years and the funds used to fund terrorism will be confiscated.
Legal entities can in principle bear criminal liability under Serbian law. Namely, the Responsibility of Legal Entities Act states that if a legal entity has enriched itself through the proceeds of a crime committed by an employee or a director, the legal entity can be sanctioned with a fine. The fine cannot be less than twice the amount of the damages or more than one hundred times the amount of the damages; in monetary terms, at least EUR 1,000 and up to EUR 5,000,000, and depends on the length of the jail time prescribed.
The AML Act provides a range of sanctions for non-compliance with the key requirements, such as customer checks, record-keeping, and suspicious transaction reporting. The sanctions take the form of fines and penalties which vary depending on the type of the infringement and range from EUR 2,000 to EUR 20,000, for legal entities and EUR 400 to EUR 2,000 for individuals.