Wykonywanie zalecen pokontrolnych jako istotny element majacy wplyw na efektywnosc funkcjonowania systemu przeciwdzialania praniu pieniedzy i finansowaniu terroryzmu w kontekscie nieuchronnosci sankcjonowania naruszenia obowiazkow wynikaj¹cych z ustawy AML

Purpose: The aim of the article is to assess the impact of implementing post-audit recommendations on the effectiveness of the anti-money laundering and terrorism financing system in the context of the inevitability of sanctioning violations of obligations under the AML Act. Design/Methodology/Approach: reports on the activities of the General Inspector of Financial Information, typological newsletters, and reports on the activities of the Office of the Polish Financial Supervision Authority were used to conduct the study. The study of the functioning of the system was carried out using data analysis. Findings: the results of the analysis allowed us to conclude that the correct and timely implementation of post-audit recommendations allows for the improvement of system imperfections, increasing its usability. However, the inevitability of sanctions in the form of a time frame for administrative proceedings, ending with the imposition of an administrative penalty in the form of a financial penalty, has a significant impact on the acceleration of the implementation of post-audit recommendations by the obligated institutions, improving the quality of the functioning of the system as a whole. Research limitations/Implications: the conducted research identified certain limitations, i.e. a small research sample related to the number of inspections carried out by the GIFI and, as a result, a small number of penalties imposed, e.g. on banks. It was observed that this phenomenon is the result of the passage of a relatively short period of time since a major amendment to the regulations in this area. Originality/Value: the article raises the important issue of the impact of implementing audit recommendations on the effectiveness of the anti-money laundering and terrorism financing system in the context of the inevitability of sanctioning violations of obligations under the AML Act.