AML / KYC Procedures

Design and implementation of Anti-Money Laundering / Know Your Client policies

Anti-money laundering and anti-terrorist financing rules, as well as Know Your Client policies are created in order to reduce a potential risk of using Your organisation for illegal purposes.

The increasing scale of financial crime has resulted in increased legislative work at both the EU and national levels. Its effects are Directives of the European Parliament and the Council on the prevention of money laundering and terrorist financing, the Law of 1 March 2018 on prevention of money-laundering and terrorist financing, as well as executive acts to the abovementioned Law.

The catalogue of its addressees – with information obligations and requirements for implementing effective internal procedures and mechanisms preventing money laundering and terrorist financing – is extremely wide. Within the meaning of the Law, obligated institutions are not only banks, financial institutions or investment companies. It also includes real estate agents, as well as entrepreneurs, associations and foundations, to the extent that they accept or make cash payments with a value equal to or exceeding the amount of EUR 10.000, regardless of whether the payment is carried out as a single operation or in several operations, that seem to be related to each other.

In case of a breach of obligations indicated in the Law on prevention of money-laundering and terrorist financing, You may be responsible not only administratively, but also You may bear criminal responsibility.

Aims and advantages of AML / KYC policies’ implementation:

  • ensuring the organisation's compliance with national and international regulations, regulatory guidelines and best market practices in the scope of counteracting money laundering and terrorist financing
  • protecting the reputation and good name of Your organization
  • avoiding severe sanctions
  • safety for both employees and customers of the organization
  • building the image of a reliable organization and thus increasing the competitive advantage

We provide support in the scope of the interpretation and implementation of regulatory requirements

Experts assistance in the area of implementation of regulatory obligations, including identification of clients and determination of their ownership structure, risk assessment, identification of the Ultimate Beneficial Owner (UBO), notifications to the Central Register of Ultimate Beneficial Owner

We provide support in contact with the General Inspector of Financial Information