Financial Crime World

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Poland Updates Financial Crime Legislation to Enhance Anti-Money Laundering and Terrorist Financing Efforts

The Polish government has updated its financial crime legislation to strengthen efforts against money laundering and terrorist financing. The new measures aim to improve cooperation between law enforcement agencies, financial institutions, and international organizations.

Improved Cooperation and Information Sharing

At the heart of the reforms is the General Inspectorate of Financial Information (GIFI), which is responsible for monitoring and investigating suspicious transactions. The GIFI has been granted broader powers to share information with foreign financial intelligence units (FIUs) and to request cooperation from other countries in combating money laundering and terrorist financing.

Stricter Controls on Transactions

The updated legislation requires financial institutions to implement stricter controls on transactions, including:

  • Reporting suspicious activity
  • Freezing assets linked to criminal activities

Additionally, the law provides for tougher penalties for individuals and organizations found guilty of money laundering or terrorist financing.

International Cooperation

The GIFI has been working closely with international organizations, including:

  • The Financial Action Task Force (FATF)
  • The European Union’s Anti-Money Laundering Directive
  • The Council of Europe’s MONEYVAL Committee
  • The Egmont Group, a global network of FIUs
  • The Eurasian Group, which focuses on combating money laundering and terrorist financing in Central Asia

A Major Step Forward

The updated legislation is seen as a major step forward in Poland’s efforts to combat financial crime. “We are committed to ensuring that our financial system is not used for illegal activities,” said Anna Chałupa, General Inspector of Financial Information. “These new measures will help us to detect and prevent money laundering and terrorist financing, and to bring those responsible to justice.”

GIFI’s Role

The GIFI has a team of experts who work closely with law enforcement agencies, financial institutions, and international organizations to identify and investigate suspicious transactions. The organization also provides training and technical assistance to financial institutions and other countries.

Contact Information

General Inspectorate of Financial Information (GIFI)

  • 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

Key Officials

  • Anna Chałupa - General Inspector of Financial Information
  • Michał Szermer - Director of Department
  • Patryk Dobrzycki - Deputy Director
  • Artur Kołaczek - Deputy Director
  • Elżbieta Franków-Jaśkiewicz - Deputy Director