Key Documents

Poland Publishes Consolidated Version of Its AML/CTF Act

January 1, 2010

Poland Delineates Amended Requirements for Reporting of Suspicious Transactions

June 25, 2003

Poland Details Operation, Registration Requirements for Money Exchange Business

March 25, 2011

Important Facts

The U.S. State Department identifies Poland as a jurisdiction of concern. Despite being the eighth largest economy in the European Union, Poland is not considered a regional financial center or a particularly important international destination for money laundering. Poland lies along one of the main routes that narcotics traffickers and organized crime groups between the former Soviet Union republics and Western Europe use. According to Poland's government, evasion of customs duties and taxes remains the largest source of illegal funds. Authorities identified virtual currencies, such as Bitcoin, as an increasingly significant avenue for money laundering. Fuel and cigarette smuggling are a major source of laundered proceeds. Money laundering through trade in scrap metal and recyclable material continues to be a growing trend, as is criminal activity in the financial services sector through internet banking, credit cards, and electronic systems for money transfers. The nation's banks, insurance companies, brokerage houses and casinos are also major venues of money laundering. Cybercriminal activity, primarily business email compromise money laundering scams, is increasing in Poland. However, the Ministry of Finance's effectiveness in preventing money laundering that involves tax havens is improving with the increased number of cooperation agreements with other countries.
KYC Covered Entities: Banks, financial leasing and factoring companies, currency exchanges, investment companies and funds, the National Depository for Securities, gaming institutions, insurance companies, the National Bank of Poland, the Polish Post, foreign legal entities carrying out brokerage activities, electronic money institutions, credit unions, notaries, foundations, auctioneers, pawnshops, and dealers of high-value goods and precious metal and stones
STR Covered Entities: Banks, financial leasing and factoring companies, currency exchanges, investment companies and funds, the National Depository for Securities, gaming institutions, insurance companies, the National Bank of Poland, the Polish Post, electronic money institutions, credit unions, brokerage houses, bookkeeping services, notaries, foundations, real estate agents, lawyers, auctioneers, pawnshops, dealers of high-value goods and precious metal and stones, and new payment services entities and agents
Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: No
Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 269 (2014); Convictions: 121 (2014)

Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical	Effectiveness
Compliant : 2	High : 0
Largely Compliant : 21	Substantial : 3
Partially Compliant : 17	Moderate : 7
Non-Compliant : 0	Low : 1

BASEL i

Rank : 110/141

Score : 4.36/10

TRANSPARENCY INTERNATIONAL i

Rank : 41/180

Score : 58/100

Tax Justice Network i

Rank : 59/133

Score : 56/100

Poland

New Documents

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Enforcement Actions

Key Documents

Important Facts

Rankings

FATF i | 2013 Methodology

BASEL i

TRANSPARENCY INTERNATIONAL i

Tax Justice Network i