Anti-Money Laundering Policy (AML)


Anti-money laundering (AML) includes a set of measures aimed at the prevention of the use of a financial system of a country or a particular financial institution for money laundering or terrorism financing. International and national institutions, banking and business communities deal with the development and implementation of these measures and instruments.Below are specific steps taken by Moneytime Sp. z o.o. in its activities as part of the AML Policy:
  • There is a top-level official in our management structure, whose main task is to supervise the compliance with the policy and procedures of Moneytime Sp. z o.o., the best global practices and AML related statutory regulations.
  • We trust high-skilled employees of our company working in close contact with clients: these are both customer service specialists and heads of divisions and departments. As part of the client policy, “Know Your Customer» programme is introduced in the company, the main goal of which is to understand and to be kept informed of the partners, with whom we enter into business relations.
  • We comply with requirements of anti-money laundering legislation of Poland. In cases prescribed by the relevant legal acts, the company cooperates with officials and government institutions of Poland.
  • We monitor recent global trends in anti-money laundering and implement them in operation of our company.
  • We are aware of anti-money laundering and statement of facts of terrorism financing are an ongoing process requiring continuing attention and the ability to track illegal financial schemes.

Main resources and legal acts related to AML:

  1. Government of Poland. "Counteracting money laundering and financing of terrorism Act" (USTAWA z dnia 1 marca 2018 r. o przeciwdziałaniu praniu pieniędzy oraz finansowaniu terroryzmu). http://prawo.sejm.gov.pl/isap.nsf/download.xsp/WDU20180000723/T/D20180723L.pdf
  2. Financial Action Task Force on Money Laundering
  3. Office of Foreign Assets Control (OFAC) of the US Department of the Treasury
  4. Financial Crimes Enforcement Network (FinCEN)
  5. International Money Laundering Information Network (IMoLIN)