Financial Crime World

Poland’s Financial Watchdog Cracks Down on Money Laundering and Terrorist Financing

Strengthened Cooperation to Combat Illegal Activities

Warsaw, Poland - In a move to combat money laundering and terrorist financing, the National Cooperative Savings and Credit Union, presidents of courts of appeal, heads of customs and tax offices, Voivodes or governors of district, and other obligated institutions have been instructed to immediately notify the General Inspectorate for Financial Information (GIFI) of any suspicion of money laundering or terrorist financing.

Expanded Powers

The GIFI has been authorized to request information from these institutions on a written request. This information can be used by law enforcement authorities in criminal proceedings related to money laundering and terrorist financing.

  • The GIFI is required to verify suspicions of money laundering or terrorist financing contained in reports and notify prosecutors if a well-founded suspicion exists.
  • Prosecutors are then obliged to inform the GIFI about any decisions they make regarding blocking accounts, suspending transactions, or initiating proceedings.
  • The GIFI can forward information to other competent authorities, such as law enforcement agencies and financial regulators, if it suspects that an offence other than money laundering or terrorist financing has been committed.

International Cooperation

In a bid to improve international cooperation in combating money laundering and terrorist financing, the GIFI exchanges information with foreign Financial Intelligence Units (FIUs).

  • The GIFI authorizes the transmission of information to other authorities or foreign FIUs.
  • The GIFI requests consent from a foreign FIU to use the information for purposes other than its original intent.

Membership in International Organizations

The GIFI is part of various international organizations and institutions operating in the area of counteracting money laundering and terrorist financing, including:

  • European Commission’s Expert Group on Money Laundering and Terrorist Financing
  • Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism
  • Financial Action Task Force

Leadership and Contact Information

The GIFI is headed by Anna Chałupa, with Michał Szermer serving as Director of Department. Deputy Directors include Patryk Dobrzycki, Artur Kołaczek, and Elżbieta Franków-Jaśkiewicz.

Contact information for the GIFI includes:

  • Address: Ministerstwo Finansów, ul. Świętokrzyska 12, 00-916 Warszawa, Polska
  • Phone: +48 22 694 30 60
  • Fax: +48 22 694 54 50
  • Email: sekretariat.IF@mf.gov.pl

Conclusion

The General Inspectorate for Financial Information plays a crucial role in combating money laundering and terrorist financing in Poland, working closely with other institutions and authorities to prevent and detect these illegal activities.