International Sanctions in the Czech Banking Sector

This thesis focuses on the implementation of international sanctions within Czech banks, analysing the associated risks of circumvention and proposing concrete solutions to enhance the effectiveness of sanctions-related controls. The primary objective is to critically evaluate the current state of sanctions enforcement in the domestic banking sector, identify key vulnerabilities, and offer practical recommendations for improvement. The research draws on the analysis of applicable legislation, methodological guidelines, and relevant case studies, complemented by the author’s firsthand experience in compliance departments of unnamed financial institutions. Based on the identified shortcomings, the thesis presents a set of targeted recommendations, including a survey designed for regulatory authorities. Emphasis is placed on the importance of enhanced employee training, technological support, and strengthened cooperation with regulators. The outcomes of this thesis serve not only as a practical guide for banks in developing and refining internal compliance mechanisms, but also as a valuable resource for regulators in the ongoing development and optimization of the sanction’s framework within the Czech Republic.