Poland, as the undisputed leader in Europe in the development of the business services sector, which currently employs over 400,000 people, is becoming a place where more advanced processes are transferred, including those related to the AML policy. Many experts estimate that the demand for this type of services and processes will grow. According to the ABSL data, processes related to the AML policy are handled by an increasing number of entities from business service centres in Poland – in 2022 it was almost 19%.
A new study programme in response to the needs of the labour market
The curriculum of the new postrgaduate study programme "AML Analyst – Counteracting Money Laundering" will be implemented in an on-site or online form at the Faculty of Law and Administration of the University of Lodz. It has been developed in cooperation with practitioners and business representatives from such companies as Euroclear, EY, mBank and Nordea in response to the current needs of the labour market, in particular the banking sector. In accordance with the European and Polish law, financial, insurance, payment institutions and accounting offices are obliged to introduce an internal procedure in the field of counteracting money laundering and financing of terrorism.
There are already over 100 business service centres in Lodz, which will be increasingly interested in attracting AML specialists from the labour market. Just like an even larger pool of employers from outside the sector, they will be able to benefit from the introduction of such a study programme by our university. The joint initiative with ABSL, thanks to the commitment of practitioners with banking experience will allow students to gain the necessary competences to efficiently operate in an environment of changing regulations. This is yet another study programme which from the very beginning was prepared by the University of Lodz in close cooperation with business sector. Thanks to the flexible formula, it is an interesting development option for people from all over Poland
– emphasises Prof. Agnieszka Kurczewska, the University of Lodz Vice-Rector for External Relations.
The curriculum of the new postgraduate study programme at the University of Lodz covers the law and economics of the banking sector, management, accounting and the practice of functioning of financial institutions. One third of the hands-on classes will focus on developing analytical thinking skills, risk assessment, working with large amounts of data and obtaining and analysing information from various sources. A graduate of the course will be able to work in an international environment in financial institutions as an AML analyst. This is a position in charge of identifying and counteracting money laundering in order to prevent reputational and financial risks of the company related to criminal activities.
We can see that AML is one of the fastest growing areas in the business services sector. This is not only a legal requirement, but also part of building the company's trust and reputation and protecting its customers and shareholders. Effective control procedures help ensure the financial security of an organisation, protecting it from the risk of losses. Additionally, responsible conduct in the area of AML increases the attractiveness of a company for customers and business partners. Thanks to the high quality of our analysts' work, more and more countries decide to use the support of centres and branches located in Poland. We are glad that a nationwide study programme that responds to the needs of the service sector, which remains one of the most dynamically developing branches of the economy will be launched in Lodz
– underlines Agnieszka Belowska-Gosławska, ABSL Vice President for Technology.
Anti-money laundering market
According to Future Market Insights data, the global size of the anti-money laundering market – i.e. services, software and solutions aimed at detecting, preventing and reporting money laundering activities – is estimated at USD 3.18 billion in 2023. Forecasts indicate a dynamic growth of up to USD 16 billion in 2033. The development of specialisation and knowledge regarding this phenomenon is all the more important as, according to the United Nations Office on Drugs and Crime (UNODC), from 2 to 5% of the world's GDP is subject to money laundering.
Strategic partner: ABSL
Business partners: euroclear, EY, mBank, Nordea
ABSL, the Association of Business Service Leaders brings together over 240 of the world's largest companies, representing the sector in which over 400,000 people are currently employed in Poland. 1.7 thousand service centres, in over 80 locations, creates a thriving sector supporting economic development, e.g. thanks to innovative solutions implemented by international corporations. The goal is to build attractive and sustainable ecosystems that, thanks to positive involvement, create new valuable jobs and develop investments helps to responsibly grow business and investment.
University of Lodz is the largest university in central Poland. It has almost 30,000 students and employs over 3,500 academic and administrative staff. Its mission is to educate high-class scientists and specialists in many fields of the humanities and natural sciences. It cooperates with business, at the human resources level, providing qualified employees, and at the scientific level, offering its know-how to enterprises from various branches of the economy. University of Lodz is a university open to the world – the number of its international students is constantly growing, and Polish students get to know Europe, Asia, or go overseas. The university is a part of Lodz, it works together with the residents of Lodz and for them, engaging in many socio-cultural projects.
Source: Centre for External Relations, University of Lodz
Edit: Communications and PR Centre, University of Lodz; photo: Bartosz Kałużny