{"id":62430,"date":"2022-07-21T07:41:27","date_gmt":"2022-07-21T07:41:27","guid":{"rendered":"https:\/\/sii.pl\/?p=62430"},"modified":"2023-09-18T06:48:23","modified_gmt":"2023-09-18T06:48:23","slug":"preventing-financial-crime-how-to-increase-the-effectiveness-of-the-regulatory-system","status":"publish","type":"post","link":"https:\/\/sii.pl\/en\/news-feed\/preventing-financial-crime-how-to-increase-the-effectiveness-of-the-regulatory-system\/","title":{"rendered":"Preventing financial crime \u2013 how to increase the effectiveness of the regulatory system"},"content":{"rendered":"

Although for many years the size of the shadow economy in Poland has remained at the level of 18% of GDP, it is estimated that in 2022 its value will increase to 590 billion PLN. The data provided by the General Inspector of Financial Information and supervisory institutions operating under the AML Act indicate that last year the authorized bodies carried out 689 inspections in the country. Taking into account the size of the phenomenon, can we thus conclude that the system for counteracting financial crime is effective?<\/strong><\/p>\n\n

Compliance is a significant challenge for many institutions. Financial crime isn\u2019t only associated with high penalties but is also a frequent reason for the loss of corporate image.<\/p>\n\n

Sii Poland experts in Know Your Customer, Anti-Money Laundering, and Countering the Financing of Terrorism support clients in creating and improving anti-fraud procedures and systems, and help them align processes within the organization with national and European regulations.<\/p>\n\n

Details regarding fraud prevention activities, along with ways to ensure compliance while reducing operating costs, are available in the full study. The paper presents key data on actions taken by regulators and obligated institutions, as well as an analysis of the effectiveness of the current system for combating financial crime in Poland, including:<\/p>\n\n