Definition
The Anti-Money Laundering/Financing of Terrorism (AML/FT) system serves the obligated entities (listed in the law) in the process of detecting and counteracting qualified offences.
The regulator requires the obligated entities to implement such internal systems involving, among others, safeguards, transaction logging and analysis, information reporting to the General Inspector of Financial Information (GIIF).
Our offer
We provide comprehensive support for clients implementing and updating their AML/FT systems and, during that process, integrate client’s internal AML assessments, regulatory duties and official guidelines of supervisory authorities.
We assist clients during implementation of financial safeguards (customer/beneficial owner identification and verification, assessment and ongoing transaction vigilance, analysis of transactions and property sources).
We help in designing and implementation of transaction recording systems, transaction data exchange with the Polish Main Inspector of Financial Information (GIIF).
We conduct training courses for the client staff on hands-on application of AML/FoT regulations.
The recently amended Act of 1 March 2018 on counteracting of money laundering and financing of terrorism (“AML Act”) requires “obliged institutions” to carry out the so-called risk assessment (Article 27.1 of AML Act). AML and CFT risks need to be identified and assessed in relation to an organisation’s activity, including risk factors related to […]
On 21 June 2017, a new act on was implemented concerning statutory auditors, auditing firms and public supervision. Works on the new law have been ongoing for almost two years. The new rules implement the EU auditing regulations into the domestic legal environment. The act brings far changes, mainly for firms qualified as public interest […]
On 10 October 2018, during the FinTech conference in Luxembourg, Mr Patrick Armstrong presented the ESMA approach to FinTech, especially DLT that underlies the blockchain protocol and cryptocurrencies. No changes are expected in that regard as ESMA is going to continue observing this technology. Mr Armstrong stressed how important it is for a regulator to […]
