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Poland Enhances Anti-Money Laundering and Terrorist Financing Measures

Warsaw, Poland - In an effort to strengthen its anti-money laundering (AML) and counter-terrorism financing (CFT) regime, Poland has implemented a range of measures aimed at detecting and preventing illegal activities.

Strengthening Financial Intelligence

At the heart of this initiative is the General Inspectorate of Financial Information (GIFI), which serves as Poland’s financial intelligence unit. The GIFI is responsible for collecting and analyzing data on suspicious transactions and financial activities, and providing this information to law enforcement agencies and other relevant authorities.

International Cooperation

The GIFI has established a network of contacts with foreign financial intelligence units, enabling it to share information and best practices in the fight against money laundering and terrorist financing. This cooperation has led to several high-profile investigations and arrests in recent years.

Enhanced Customer Due Diligence Requirements

One of the key measures implemented by Poland is the strengthening of its customer due diligence (CDD) requirements for financial institutions. Under these rules, banks and other financial institutions are required to conduct thorough background checks on their customers and report any suspicious transactions to the GIFI.

Stricter Regulations on Cash Transactions

The country has also introduced stricter regulations governing the use of cash in large transactions, with a focus on preventing money laundering through the use of anonymous shell companies and trusts.

Enhanced Powers for Asset Freezing and Seizure

In addition, Poland has enhanced its powers to freeze and seize assets suspected of being linked to illegal activities. This includes the ability to impose strict conditions on individuals and entities suspected of engaging in money laundering or terrorist financing, such as restrictions on their use of financial services and travel limitations.

Collaboration with Other Government Agencies

The GIFI is working closely with other government agencies, including the Polish Financial Supervision Authority (PFSA), to ensure that its anti-money laundering measures are effective and compliant with international standards.

Commitment to Fighting Money Laundering and Terrorist Financing

“Poland is committed to being a leader in the fight against money laundering and terrorist financing,” said Anna Chałupa, General Inspector of Financial Information. “Our goal is to create a robust system that can effectively detect and prevent illegal activities, while also protecting the financial stability of our country.”

Recognition by International Organizations

The GIFI’s efforts have been recognized by international organizations, including the Financial Action Task Force (FATF), which has praised Poland for its progress in implementing anti-money laundering and counter-terrorism financing measures.

Contact Information

Anna Chałupa General Inspector of Financial Information Ministerstwo Finansów ul. Świętokrzyska 12 00-916 Warszawa, Polska tel: +48 22 694 30 60 fax: +48 22 694 54 50 e-mail: sekretariat.if@mf.gov.pl