New Principles of Counteracting Cyberlaundering under the Act of 1 March 2018 on Counteracting Money Laundering and Terrorist Financing

Abstract

Cyberlaundering is a money-laundering mechanism that has been developing since the beginning of this century. Only recently, however, have the detailed rules for preventing this phenomenon been introduced. The Act of 1 March 2018 on Counteracting Money Laundering and Terrorist Financing introduced a number of solutions defining the identification and verification obligations for transactions in cyberspace. Following these changes, it will be necessary to develop the best methods of cooperation between all actors of the cyberlaundering system: obligated institutions, cooperating units and law enforcement agencies. The author draws attention to the national cyberlaundering risk assessment, prepared with the participation of obliged institutions, cooperating units and law enforcement bodies. Its use will affect the collection and sharing of more information useful in the detection process and the timing of detection activities. A specific area of national risk assessment will be cybercrime. The author believes that the detection of crimes in cyberspace should be included in a new legal framework, which would allow the specificity of the digital area to be directly taken into account, without having to resort to often difficult and practically always ambiguous legal interpretations in this regard.