On 14 September 2023, AKM GROUP – CZ, a.s. received an official letter from the National Central Bureau for Combating Organised Crime of the Criminal Police and Investigation Service of the Czech Republic stating the following:
As a result of the investigation conducted by the Police of the Czech Republic, no violations or offenceshave been established and there are no grounds for further investigation. The termination of the inspection took effect on 29.08.2023.
Months earlier, in April 2023, AKM GROUP – CZ, a.s., as well as many other companies, felt the negative consequences related to unjustified refusals by Czech banks and their correspondent banks to carry out payment transactions in US dollars related to payment for the supply of arms and other military products for Ukraine.
According to Dr Jiří Hynek, President of the Association of Defence and Security Industry of the Czech Republic, such situations have happened before.
‘Unfortunately, in our work we are often hindered by the behaviour of some foreign banks that refuse to carry out payment transactions for weapons and other military materials intended for the Ukrainian armed forces. This negative attitude of banks towards companies that produce or trade in military materials is a long-standing problem, which has unfortunately worsened recently,’ said Dr Jiří Hynek, President of the Association of Industrialists and Entrepreneurs.
Banks that have a disagreement with a client abuse the ‘anti-money laundering law’, file police reports and block all transactions while the case is being investigated, which leads to delays in deliveries to Ukraine.
Unfortunately, this also affected AKM GROUP – CZ, a.s. Our company’s accounts were indeed blocked: one for 46 days, the other for 64 days, and the company’s activities were checked. As a result of this check, the Czech law enforcement authorities ruled that AKM GROUP-CZ and its officials cannot be accused of misuse of funds, suspicious nature of transactions or any other acts falling under the definition of the Special Part of the Criminal Code of the Czech Republic.
To date, AKM GROUP – CZ, a.s. has returned its activities to normal, is not under investigation in any country in the world, and all company accounts are free of any encumbrances.



