Pursuant to Resolution No. 03-261 of the Board of the Bank of Lithuania of 20 December 2018, electronic money institutions and payment institutions must submit six types of reports to the Bank of Lithuania for the supervision of the implementation of money laundering and terrorist financing prevention measures. Reports are submitted via EM0010_01, EM0010_02, EM0010_03, EM0010_04, EM0010_5, and EM0010_06 forms.
Institutions must submit EM0010_01–EM0010_03 forms to the Bank of Lithuania on a quarterly basis – 20 calendar days after I, II, III, and IV quarters (which ends on March 31st, June 30th, September 30th, December 31st). EM0010_04–EM0010_06 forms are to be submitted after the end of the financial year (which ends on December 31st) until March 31st.
Earlier this month, the Bank of Lithuania provided Recommendations and Answers to Frequently Asked Questions on How to Properly Prepare and Submit Reports for Supervision of the Implementation of Money Laundering and/or Terrorist Financing Prevention Measures. The Recommendations provide explanations on what is demanded from each specific form, further clarifying what information institutions must provide when completing the relevant forms.
Recommendations are also provided on general reporting issues, e.g. the value of payment transactions must be indicated in euros, and when the transaction is performed in a different currency, it must be converted at the exchange rate published on the Bank of Lithuania’s website on the last day of the reporting period.
It is important to note that the Resolution must be followed first, as changes to it may invalidate the Recommendations.