As of June 16 2001, with the Government decree of 88/2001 (VI.15), all previous foreign exchange restrictions, concerning both domestic and foreign economic and financial actors, organizations, and natural persons were lifted. Due to the full-scale foreign exchange liberalization the obligation to apply for licenses and to report to the foreign exchange authority was cancelled, the holding of foreign exchange and forint on bank account became free.

The Act LXXXIII of 2001 on the fight against terrorism, on tightening up the provisions on the prevention of money laundering and on the ordering of restrictive measures extends the scope of the Act XXIV of 1994 on the prevention and hindering of money laundering on the representations of foreign companies in Hungary, and on organizations providing financial services in the real estate branch, traders of jewelry and goods in the precious metal branch, organizations selling cultural goods on auctions or as commissioners, and attorneys (law offices) managing lawyer’s deposits, public notaries and auditors keeping money, valuables, or securities in custody and auditors, in the case of individual entrepreneurs on their employees and family members taking part in the business, and on customs authorities. In addition it created the detailed rules of the so-called denomination procedure to eliminate anonym deposits.