Financial Crime World

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AML Training for Financial Institutions in Poland

In a move to strengthen anti-money laundering (AML) measures in Poland’s financial sector, a comprehensive training program has been launched for financial institutions. The course, which commences in 2023 and runs until 2024, focuses on best practices, legislation, and regulations governing AML activities.

Course Content

The five-unit course delves into the complexities of money laundering and terrorist financing, including:

  • “Know your customer” and customer due diligence
  • Reporting suspicious transactions
  • Current major issues affecting AML prevention in the financial sector

Course Details

  • Limited to 20 places for WNE UW and MOST students, and five places for Erasmus students
  • Participants will be selected based on grades from relevant subjects or registration order
  • The course is led by experienced coordinators who have expertise in AML training

Expected Outcomes

Upon completion of the course, participants are expected to possess a range of skills and knowledge, including:

  • Understanding money laundering vulnerabilities
  • Legal and regulatory structures
  • Management obligations
  • Risk-based approaches
  • Ability to recognize simple examples of money laundering
  • Construct methods for prevention
  • Propose changes to existing legal frameworks

Assessment

Assessment is based on a two-hour exam at the end of the course, which includes:

  • Multiple-choice test
  • Case study

The top 30% of students will have access to a fast-track recruitment process with Citi’s AML department.

Additional Resources

The training program draws from reputable sources such as:

  • FATF Recommendations
  • Wolfsberg Statement
  • World Bank reports

A comprehensive bibliography is provided in the additional information section for further reference.

Conclusion

This AML training program is an essential step towards strengthening Poland’s financial sector and ensuring compliance with international regulations. With its focus on best practices, legislation, and regulations, it is poised to equip participants with the knowledge and skills needed to effectively prevent money laundering and terrorist financing.