Abstract
Reviews current laws and regulations: predicate offences, cross‐border currency exchange, anonymous accounts, reporting information and confiscation regime. Moves on to domestic bureaucratic structures and responsibilities: the Anti‐Money Laundering Section, the Hungarian customs authority, the National Bank of Hungary, the Hungarian Financial Supervisory Authority, and the Anti‐Money Laundering High‐Level Policy Co‐ordination Body. Concludes that the Hungarian financial sector remains vulnerable to money laundering, partly because of the country’s geographical location and also because of the presence of powerful organised criminal groups, while its modern communication and transportation give easy access to smuggling networks.
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