Fin Min seized Kč 808 mln in ‘dirty’ money in 2011

Finance Ministry reports seizing almost three times as much as in 2010, though tax evasion estimated to cost state up to Kč 30 billion

Markets & Finance|Economy

Tom Jones | 07.02.2012

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The Finance Ministry announced Tuesday that last year its Financial Analysis Unit (FAÚ) blocked Kč 808 million of “laundered” money, i.e. funds suspected of being diverted to avoid taxation and illegally-gained funds. The FAÚ said it received 1,970 reports of suspicious transfers of money, 83 more than in the previous year.

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