On 12.03.2021 a new Law for amendment and supplement of the Measures Against Money Laundering Act was promulgated. The change is necessary in connection with the addition of the obliged subjects under the MMLA, for the list to be completely exhaustive, according to the European requirements.
In view of the National Evaluation of the Risk of Money Laundering and Terrorist Financing (NER) conducted in 2018-2019, it was established which groups of entities must be present in the list of obligated entities under the MMLA. With the adoption of this law, the following persons will no longer be obliged to follow the measures for prevention of money laundering under the Measures Against Money Laundering Act:
- wholesalers;
- the privatization bodies;
- the persons organizing the award of public procurements;
- ministers and mayors of municipalities when concluding concession contracts;
- the legal entities to which there are mutual funds;
- trade unions and professional organizations
- the bodies of the National Revenue Agency;
- professional sports clubs, with the exception of football clubs
Among the motives of the Council of Ministers is precisely the opinion that the following persons have not been identified as risks under the NER. Regarding the change in connection with sports clubs, according to the reasons in the bill in recent years, cases have been identified in which football clubs have become intermediaries in such transactions.
Upon adoption of the proposed bill, there will be changes in the Measures against Terrorist Financing Act and the Financial Supervision Commission Act. The National Revenue Agency will now be obliged to report to the institutions responsible for the MTFA when in the course of its activities they establish suspicious circumstances around a person.