Amendments to the Anti-Money Laundering Act – August 2023
The National Assembly adopted amendments to the Anti-Money Laundering Act, which introduce additional measures to combat money laundering and terrorist financing, in accordance with Directive (EU) 2018/843.
Key changes:
- Mechanism for resolving discrepancies between the collected beneficial ownership data and the data in the register.
- Creation of a new public register for persons providing corporate governance services.
- Additional requirements for certain obliged entities (legal advice, company management, brokerage in real estate transactions).
- Enhanced measures for identification of clients and their proxies.
- Updating internal rules and mandatory documents for beneficial owner declarations.
The changes are effective from 14.07.2023, with the new non-compliance notification mechanism coming into effect from 16.07.2024. Obliged entities must update their processes and documentation to ensure compliance with the law and avoid sanctions.