President signs law against money laundering, terrorism financing

President Andrzej Duda on Monday signed an amendment to laws against money laundering and the financing of terrorism which prevents the use of the national financial system for such purposes. The act adjusts Polish legislation to EU laws. The new law introduces, among other provisions, competence and reputation criteria for executives in legal entities and frees certified accountants from confidentiality in the case of financial inspections and other official inquiries into their clients' financial movements. It also forbids previously convicted persons from holding executive and managerial posts in the real estate branch.