Poland Improves Anti-Terrorist Financing Compliance, Says MONEYVAL Report

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Poland has taken significant steps to strengthen its measures against money laundering and terrorist financing, according to a follow-up report released by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL).

Progress in Improving Compliance

Since December 2021, Poland has:

• Provided enhanced guidance and feedback to reporting institutions
• Introduced new measures in the virtual asset service provider sector, including:
  • A registration regime
  • “Fit and proper” requirements for natural persons involved in virtual assets
  • Penalties for non-compliant providers

As a result of these efforts, Poland has been re-rated on Recommendation 34 from Partially Compliant to Largely Compliant. Although Recommendation 15 remains Partly Compliant, the country’s overall progress has addressed technical compliance shortcomings identified in its 2021 Mutual Evaluation Report.

Current Compliance Status

Poland now has a total of 40 Recommendations, with:

• 2 rated Compliant
• 22 rated Largely Compliant
• 16 rated Partially Compliant

The country is expected to report back to MONEYVAL on further progress by December 2024.

About MONEYVAL

MONEYVAL is the monitoring body of the Council of Europe that assesses compliance with international standards against:

• Money laundering
• Terrorism financing
• Proliferation financing

The organization evaluates 33 states and territories and makes recommendations to national authorities for improving their anti-money laundering and counter terrorist financing systems.

Access the Full Report

The full report can be accessed online.