Press release - DC089(2013)

Money laundering and financing of terrorism – Council of Europe MONEYVAL Committee publishes report on Poland

Strasbourg, 26.06.2013 – The Council of Europe’s anti-money laundering committee, MONEYVAL, today published a report evaluating measures taken by Poland to combat money laundering and terrorist financing. The report sets out an analysis of the implementation of international and European standards. The main findings can be summed-up as follows:

- Poland identified money laundering and terrorist financing as one of the strategic priorities of its two National Programs for counteracting and combating organised crime and for combating terrorism, for the years 2012–16.

- The technical deficiencies identified in the third round report on criminalisation of money laundering have not yet been addressed. The number of investigations and prosecutions for money laundering offences appears low, compared to the level of funds-generating crime. The evaluators considered there still remains an insufficiently proactive approach to money laundering investigation by law enforcement. The confiscation regime remains incomplete and the level of final confiscations also appears low.

- Following the MONEYVAL recommendation in its third round evaluation, Poland introduced into its Penal Code an independent, autonomous offence of terrorist financing. Nevertheless, the offence is still not fully in line with international standards.

- While Poland has a broadly sound legal structure for preventive standards, the legislative provisions dealing with customer due diligence requirements are still not entirely in line with international standards. In particular, there is no clear requirement to identify beneficial owners and to verify the customers’ identities from reliable and independent sources. Additionally, Polish law still does not require adequate transparency of legal persons.

- The Polish supervision system is well developed. The Financial Supervisory Authority plays a positive role in the supervision of financial institutions together with the Financial Intelligence Unit, which is active in building relationships with the banks and other obliged institutions.

- Finally, MONEYVAL notes that Poland can provide a wide range of mutual legal assistance and co-operation, the legal framework for which is well established.

MONEYVAL will continue to monitor implementation of the recommendations by Poland through its regular procedures, which require the country to submit a follow-up report by April 2015.

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The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) is a Council of Europe body that assesses compliance of states with the relevant international and European standards to counter money laundering and terrorist financing, and makes recommendations to national authorities. 28 Council of Europe member states are currently subject to MONEYVAL’s evaluation procedures, as well as Israel, the Holy See (including the Vatican City State) and the United Kingdom’s Crown Dependencies of Guernsey, Isle of Man and Jersey.

Link to the executive summary

Contact : Can Fisek, Media officer, Spokespersons’ Service, Tel. +33 3 88 41 30 41

Council of Europe Directorate of Communications
Tel: +33 (0)3 88 41 25 60
Fax:+33 (0)3 88 41 39 11
pressunit@coe.int

www.coe.int



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