Hungary: Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
September 21, 2005
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This report examines Hungary’s Observance of Standards and Codes on the Financial Action Task Force (FATF) recommendations for Anti-Money Laundering (AML) and Combating the Financing of Terrorism. Hungary has a substantial AML legal and institutional framework for combating money laundering (ML), including preventive measures for a wide range of service providers and law enforcement measures. The ML offense, while it addresses self-laundering, covers only using the proceeds of crime in the business activity of the perpetrator or in a bank or financial transaction.
Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing
Keywords: Anti-Money Laundering, Anti-money laundering and combating the financing of terrorism (AML/CFT), authority, CFT assessment, CFT directive, CFT rule, CFT system, CR, EU CFT, Hungarian DNFBP AML, ISCR, Legal support in revenue administration, Money laundering, offense, Terrorism financing
Pages:
17
Volume:
2005
DOI:
Issue:
347
Series:
Country Report No. 2005/347
Stock No:
1HUNEA2005004
ISBN:
9781451948660
ISSN:
1934-7685
