Favourable outcome of AML audit by the National Bank of Poland (NBP)

As part of its Compliance and AML practice, Rudnicki Partners audits compliance frameworks for the prevention of money laundering and terrorist financing in place at obliged entities. Performing an external audit of this type helps the Client identify and remedy possible deficiencies of the system, to avoid negative consequences of a breach of duties being detected by supervisory authorities.

One of Rudnicki Partners' Clients has just learned this year that a timely decision to conduct an external AML audit can safeguard against potential penalties. Our team conducted an AML audit of that Client earlier this year and subsequently implemented appropriate changes to ensure that the system in place complies with applicable national and international laws, as well as regulator guidelines and market best practices.

The validation of our work came unexpectedly swiftly, as shortly after the implementation of the measures we recommended had been completed, the Client went under audit by the National Bank of Poland concerning, inter alia, its performance of duties imposed by the Polish Anti-Money Laundering and Counter-Terrorist Financing Act.

We are proud to say that the audit ended on a positive note for the Client.

advocate Kacper Leśniak