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Communication no. 29 regarding the application of Article 180a of the Act of 1 March 2018 on Counteracting Money Laundering and Financing of Terrorism (Journal of Laws of 2020 item 971, as amended)

Due to information directed to the General Inspector of Financial Information (hereinafter referred to as “the GIFI”) concerning doubts regarding interpretation of Article 180a of the Act of 1 March 2018 on Counteracting Money Laundering and Financing of Terrorism (Journal of Laws of 2020 item 971, as amended), hereinafter referred to as “AML/CFT Act”, I hereby inform that:

According to Article 180a of the AML/CFT Act, one is exempted from the obligation to report the information concerning the so-called “above threshold transactions”, referred to in Article 72(1)(2) of this Act, in the case of transfer of funds constituting financial support granted under the government or local government program in connection with counteracting COVID‑19 within the meaning of Article 2(2) of the Act of 2 March 2020 on specific solutions related to the prevention, counteracting and combating COVID-19, other infectious diseases and the crisis situations caused by them (Journal of Laws items 374, 567, 568, 695, 875 and 1086).

The provision in question was introduced by the Act of 19 June 2020 on subsidies to interest rates on bank loans granted to entrepreneurs affected by COVID-19 and on the simplified proceedings for approval of an arrangement in connection with the occurrence of COVID-19 (Journal of Laws of 2020 item 1086), which entered into force on 24.06.2020.

The literal interpretation, as well as the purposive interpretation of Article 180a of the AML/CFT Act, indicate that the exemption from the obligation to report to the GIFI the information on the so-called above threshold transactions, shall apply to each transfer of funds, which constitute financial support granted under the government or local government program in connection with counteracting COVID-19.

This exemption is comprising the transfers of funds directed to the entities as a financial support, as well as possible transfers of funds constituting reimbursement of financial support granted, returned from the entity that received the support to the entity that provided the support under the government or local government program in connection with counteracting
COVID-19.

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