Civil-Law Partnership in the System of Counteracting Money Laundering and Terrorism Financing (AML/CFT)

Abstract

This article addresses the problems of legal status of the so-called civil-law partnership, as specified in Art. 860 § 1 of the Polish Civil Code, from the point of view of performing the obligations in the area of counteracting money laundering and terrorism financing. First, the author provides a detailed characterization of this civil law institution and resolves that the civil-law partnership does not have legal subjectivity separate from its partners, and then points to the consequences of the above facts in the area of counteracting money laundering and terrorism financing. In conclusion, the author formulates a general conclusion that the obligations in respect of counteracting money laundering and terrorism financing, including financial safeguards, should be applied to the civil-law partnership partners, as customers in the understanding of Art. 2(2) item 10 of the Polish AML Act.

Keywords

• civil-law partnership
• AML
• legal persons
• natural person
• financial safeguards
• obliged institutions