AML & CTF

The Bank of Lithuania Fined Two EMIs for AML/CTF Violations: What Can We Learn?

In March of 2023, the Bank of Lithuania fined two electronic money institutions for non-compliance...

Draft Instructions for AML and International Sanctions for Financial Market Participants in Lithuania

Instructions aimed at preventing money laundering and/or terrorist financing The Bank of Lithuania has issued...

The Bank of Lithuania and the FCIS Have Published the Annual Inspection Plans. How to Prepare for the Inspection?

On January 17, the Bank of Lithuania announced the 2023 inspection plan for financial market participants....

ECOVIS ProventusLaw appoints A. Viederytė as the Head of AML Group

ECOVIS ProventusLaw is happy to announce that Austėja Viederytė was promoted to the head of...

The Bank of Lithuania outlined key deficiencies of sanctions-related control measures for financial market participants

On the 21st of July, the Bank of Lithuania published a report on the implementation...

Why Adverse Media Screening Is Important for Businesses and how is it performed?

Adverse media screening is fast becoming a crucial element of an organisation’s customer due diligence...

Reminder: the revised Guidelines on money laundering and terrorist financing risk factors has entered into force

ECOVIS ProventusLaw would like to remind FinTech market participants that the revised Guidelines on money...

ECOVIS ProventusLaw strengthens its forces in AML area

As an active FinTech market participant, ECOVIS ProventusLaw pays great attention and gives great priority...

Lithuania launches the Centre of Excellence in Anti-Money Laundering

The Centre of Excellence in Anti-Money Laundering starts its activities in Lithuania. Bringing together representatives...

How to Prepare Reports for Supervision of the Implementation of ML and/or TF Prevention Measures?

Pursuant to Resolution No. 03-261 of the Board of the Bank of Lithuania of 20...

AML Draft Law Seeks Widespread Use of Electronic Signature for Customer Identification

Earlier this month, amendments to the Republic of Lithuania Law on the Prevention of Money...

Risk indicators of trade-based money laundering

In December 2020, the Financial Action Task Force (FATF) and Egmont Group of Financial Intelligence...