FATF status

Poland is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Poland was undertaken in December 2023. According to that Evaluation, Poland was deemed Compliant for 2 and Largely Compliant for 22 of the FATF 40 Recommendations. It remains Highly Effective for 0 and Substantially Effective for 3 of the Effectiveness & Technical Compliance ratings.

Poland has established various laws and regulations to combat corruption, including those targeting public officials and political party finances, with the Central Anti-Corruption Bureau and national police responsible for enforcement. Despite a decrease in reported corruption levels, challenges remain, particularly in prosecuting foreign bribery and ensuring judicial independence. While U.S. firms find compliance with anti-corruption laws beneficial for their operations, the OECD has raised concerns about Poland's enforcement of foreign bribery laws and the need for comprehensive reforms.

Poland's economy has outpaced the European Union average in recent years, supported by robust fundamentals and effective macroeconomic policies. However, in 2023, the economy stagnated due to inflation affecting household spending and reduced external demand, although a rebound is anticipated in 2024 driven by increased household consumption and external sector recovery.

Poland's investment climate is characterized by a welcoming attitude towards foreign direct investment, supported by government strategies aimed at improving the regulatory environment and corporate governance. Despite some restrictions in strategic sectors and concerns about the predictability of policies due to the influence of state-owned enterprises, the new coalition government has expressed intentions to enhance investment predictability and simplify business regulations. The country continues to attract foreign capital, bolstered by its educated workforce and strategic location within the EU.