Poland has improved its measures for tackling money laundering and terrorist financing (AML/CFT), the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) has concluded in a new follow-up report, which focuses on the country’s progress in enhancing the level of compliance with the Financial Action Task Force (FATF) Recommendations 1 (Assessing risks and applying a risk-based approach), 15 (New technologies), 26 (Regulation and supervision of financial institutions) and 33 (Statistics).
Since December 2023, Poland has developed and published a new national risk assessment; taken steps to implement its national strategy by reinforcing the financial, human and technical resources of the Military Police, the Financial Supervision Authority (UKNF) or the Financial Intelligence Unit; and has addressed minor legislative shortcomings related to the application of enhanced due diligence. Additionally, Poland also upgraded its collection, management and granularity of relevant ML/TF statistics, such as in relation to suspicious activity reports, seizure of property, extraditions and mutual legal assistance requests. All these improvements…
