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Communication no. 6 on the completion of transitional periods for the obligated institutions for reporting of the information on above threshold transactions referred to in Article 72 of the Act of 1 March 2018 on counteracting money laundering and financing of terrorism (Journal of Laws, item 723, as amended) to the General Inspector of Financial Information.

The General Inspector of Financial Information would like to remind you that 12 July 2019 is the date of the expiry of the time limit by which the information of the so-called above threshold transactions (Article 72 of the above-mentioned Act) and a form identifying the obligated institution (Article 77 of the above-mentioned Act) may be submitted to the General Inspector of Financial Information pursuant to the existing provisions, i.e. provisions of the repealed Act of 16 November 2000 on counteracting money laundering and financing of terrorism.

For the above reasons, the General Inspector of Financial Information hereby informs that the ITC system administered by the authority will accept the above-mentioned information and identifying forms under the existing provisions not later than 12 July of the current year until 23:59:59.

 

The foregoing implies that in terms of time limits of providing the financial information authority with the above-mentioned information by the obligated institution it is required that:

 

•           information concerning above threshold transactions executed by 5 July of the current year is submitted not later than 12 July of the current year until 23:59:59; within this period it may be submitted both with the use of the “old” templates of electronic documents and with the use of “new” templates of electronic documents (acceptable in the transitional period);

•           information concerning above threshold transactions executed from 6 July of the current year is submitted with the frequency stipulated in Article 72(5) of the above-mentioned Act, i.e. within 7 days following the execution of transaction. By 12 July of the current year until 23:59:59 it may be submitted both with the use of the “old” templates of electronic documents and with the use of the “new” templates of electronic documents (acceptable in the transitional period) and by 13 July of the current year it may be submitted only with the use of the “new” templates of electronic documents obligatory from this date.

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