News

Fintech

2020.09.18

Last call for UK based Finance Institutions and FinTech’s losing their EU license passports after the BREXIT

As from the 1 February 2020 The United Kingdom (UK) is no longer a member...

AML

2020.09.11

Moneyval‘s findings on money laundering and terrorism financing during COVID-19

The Council of Europe’s Moneyval Committee has issued a new report on latest money laundering...

AML

2020.09.08

SWIFT revealed how cyber criminals encash stolen funds

SWIFT and BAE Systems Applied Intelligence have published a new report describing the complex web...

Labour Law

2020.08.04

Posting of foreign citizens to the Republic of Lithuania – Amendments to the Labour Code as of 30th of July

The provisions of the Directive of the European Parliament and of the Council concerning the...

AML

2020.07.29

Lithuania is ranked as one of the least vulnerable countries to ML/TF worldwide

On 23 July, 2020 Basel Institute on Governance released its 9th public edition of risk...

Data protection

2020.07.17

The Court of Justice of the EU strikes down key rules of U.S.-EU data transfer

On July 16, 2020 in a landmark decision, the Court of Justice of the European...

AML

2020.07.09

Updated list of suspicious monetary operations or transactions

The Financial Crime Investigation Service expanded the list of suspicious monetary operations or transactions by...

Data protection

2020.07.03

German State Data Protection Commissioner imposed 1.2 million € GDPR fine

The German State Data Protection Commissioner of Baden-Württemberg (“LfDI Ba-Wü”) imposed a GDPR fine of...

Data protection

2020.07.02

How the European Union’s GDPR Rules Impact Artificial Intelligence?

Recently the European Parliamentary Research Service had issued study “The impact of the General Data Protection...

Labour Law

2020.06.30

The Supreme Court of Lithuania has formed a practice regarding termination of an employment contract at the will of the employer

The Supreme Court of Lithuania (LAT) on June 25 this year has adopted a ruling...

Fintech

2020.06.29

Despite the COVID-19 pandemic, the number of electronic money institutions continues to grow

While the normal life was suspended under lockdown due to COVID-19 pandemic, this did not...

Data protection

2020.06.28

GDPR fines. What can we learn from mistakes? April-May 2020

Unknown company Imposed fine. The Netherlands Supervisory Authority for Data Protection (AP) has imposed a...

Legal advice Uncategorized

2020.06.26

Amendments to the Labour Code of the Republic of Lithuania as of 1st August 2020

As of 1 August 2020, amendments to the provisions of the Labour Code will enter...

Fintech

2020.06.16

Regarding the format of documents to be provided during the process of PI and EMI licensing

The Bank of Lithuania submitted a project which shall amend the Resolution of the Bank...

Fintech

2020.06.16

Changes in regulation regarding safeguarding of clients’ funds

The Bank of Lithuania, as supervisory authority of the financial market participants, has been recently...