Hungary Bans Anonymous Accounts

PT       2001-09-03 
Following Hungary's addition to the FATF (Financial Action Task Force) money-laundering black-list last June, the country's banking supervisor has announced plans to tighten up legal controls. The State Banking Inspectorate detailed a range of measures, including the abolition of anonymous accounts, one of the main reasons for the FATF listing. Hungarian economic experts said they doubted the connection between anonymous accounts and money-laundering, but as an EU aspirant, the country has no choice but to submit. It will be impossible to open new anonymous accounts as from 1st January 2002.