ECOVIS ProventusLaw training for Fintech companies

Posted: 13/03/2020 (Last updated: 02/02/2026)

13/03/2020

ECOVIS ProventusLaw training “International Economic and Financial Sanctions and their Risk Management in Fintech Companies” took place in Vilnius. AML and compliance people from financial sector were invited to participate and gain deeper knowledge in quite complex topic of economic and financial sanctions.

Few takeaways from the training:

When operating internationally, it is important to ensure that the company complies with restrictions in each country and that customers, payments and transactions are not subject to sanctions of individual countries.
The rules on sanctions screening and freezing of funds must be clearly defined.
Ordinary AML tools can help manage sanctions risks.
Knowing customers better can help financial institution to not only mitigate sanctions risks but also safeguard its customers from the same risks.
Carefully assess US jurisdiction and note the extraterritorial reach of US sanctions.

Speakers – certified AML expert Rūta Sakalauskaitė and partner, Attorney at Law of ECOVIS ProventusLaw, certified AML expert Inga Karulaitytė – were those who shared their experience in the topic during the training, presented the theory and real-life examples.

Frequently Asked Questions

Postponement of the auditor’s visit during a tax audit

My company has just received a notice of accounting audit. I would like to change the date of the controller’s first visit to our premises. Is this possible?

Absolutely. You can indeed request the postponement of this first on-site intervention. But to do this, you must quickly formulate your request in writing. And be careful, the tax authorities are not obliged to accept it. Your request can only be accepted if the reasons you invoke seem serious. This may be the case, for example, if your accountant is absent or if your company is closed due to holidays. Generally, if it accepts your request, the administration informs you of the new date by registered letter with acknowledgement of receipt, and not by a corrected verification notice.

Employee Performance Appraisal Interview

Scope of the legal guarantee of conformity

CFE Declaration Requirements Following a Company Takeover with Premises