Polski Instytut Kontroli Wewnętrznej

English

• Profits Plunge 50% for Banks

  Profits Plunge 50% for Banks
  
  August 4, 2009
  
  Net profits in Poland's banking sector plunged a massive 50% to zl.4.33bn in the first half of this year from zl.8.64bn in the same period in 2008, market regulator KNF said in a report.
  
  Commercial banks accounted for zl.3.97bn of the H1 profits, and cooperative banks zl.360m.
  
  (PAP Market Insider)

• Fraud Examiner Newsletter Articles

  Fraud Examiner Newsletter Articles
  
  
  Account Takeover Fraud on the Rise, Study Says
  
  By Mark Scott, J.D.
  
  A new report warns that the global economic crisis has prompted a disquieting surge in account (or facility) takeover fraud.
  
  According to CIFAS, a fraud-prevention service in the United Kingdom, incidents of account takeover fraud registered a 207-percent increase in 2008 when comp(...)

• EU Transfers 478.5 Million Euros to Poland in May

  EU Transfers 478.5 Million Euros to Poland in May
  
  June 30, 2009
  
  Poland received 478.5 million euro in transfers from the European Union in May, Finance Ministry announced.
  
  Of the amount, EUR 239.8 mln came in current transfers and EUR 238.67 mln in capital transfers. Poland, in turn, paid in EUR 186.05 mln.
  
  This put year-to-date figure of transfers from the EU at EUR 4.95 bln and th(...)

• FRAUD NEWS JUNE 2009

  FRAUD NEWS JUNE 2009
  
  
  Three jailed over UK visa fraud
  
  in west London have been jailed over what is said to be one of the UK's biggest visa scams.
  Rakhi Shahi, 31, was found guilty of conspiracy to defraud, handling criminal property and immigration offences at Isleworth Crown Court.
  
  Jatinder Kumar Sharma, 44, her husband, admitted his part in the scam in March.
  Neelam Sharma, 38, (...)

• FinMin Welcomes EC Plans to Reform Banking Supervision

  FinMin Welcomes EC Plans to Reform Banking Supervision
  
  June 12, 2009
  
  Poland's Finance Ministry supports the European Commission proposals of the European financial market supervision, which would strengthen the supervision at the European level, FinMin spokesperson Magdalena Kobos told PAP.
  
  "Some issues in the statement are not sufficiently clear and will have to be precized and (...)

• Ruling PO Taking 44.39% of Polish EP Pool

  Ruling PO Taking 44.39% of Polish EP Pool
  
  Warsaw, Poland June 8, 2009
  
  Ruling centre-right Civic Platform party (PO) has won European Parliament elections in Poland with support of 44.39% of voters translating into 25 MEPs, preliminary estimates by State Election Committee (PKW) showed.
  
  The conservative, euro-sceptic Law and Justice party (PiS) took second place with support at 27.41% (1(...)

• Poland Only Eastern EU Member To Post Q1 GDP Growth

  Poland Only Eastern EU Member To Post Q1 GDP Growth
  
  Warsaw, Poland June 1, 2009
  
  Poland's GDP grew by 0.8% in Q1 2009, according to stats office data. Investments increased by 1.2% on expectations of 3% decline. Domestic demand decreased by 1% vs. a growth of 0.8% expected.
  
  "Investment outlays on fixed assets are still strong which is a
  positive surprise to me. The strong decli(...)

• Poland's Meeting Maastricht Criteria Under Question

  Poland’s Meeting Maastricht Criteria Under Question
  
  Warsaw, Poland May 22, 2009
  
  Poland might have difficulties meeting Maastricht fiscal criterion as the public sector deficit to GDP ratio could increase significantly in 2009 and 2010 and other criteria also prove difficult to meet, the rate council said in minutes from its April sitting.
  
  Worse than expected state of public finan(...)

• It Takes a Meltdown

  Fraud Examiner Newsletter Article
  
  March 2009
  
  It Takes a Meltdown
  By Peter Goldmann
  
  Understatement #1 of the current financial crisis:
  
  “The federal government has spent hundreds of billions of dollars to stabilize our banking system, and Congress will soon spend even more to restart our economic recovery. But to date, we have paid far too little attention to investigating(...)

• NBP looks ready to cut reserve requirements

  NBP looks ready to cut reserve requirements
  
  Warsaw, Poland March 20, 2009
  
  Poland's central bank is ready to cut the rate of mandatory reserves to below current 3.5%, NBP news portal suggests, citing NBP head Slawomir Skrzypek.
  
  " is now preparing extension of repo duration to 6 months and is ready for further actions. Including cutting the rate of mandatory reserves. As Slawomir Sk(...)