News

How Financial Market Participants Can Improve Their AML/CFT Compliance?

New instructions for financial market participants aimed at preventing money laundering and terrorist financing will...

How Financial Institutions Can Succeed in Keeping Track of the Sanctions Landscape, Avoiding Fines and Reputation Damage?

The Bank of Lithuania has issued instructions for fintechs on the implementation of international sanctions...

Compensation for Employees Whose Work is of a Mobile Nature is abolished

From 1st June 2023, the transition period ends and abolishes the compensation for employees whose...

From Risk to Resilience: ECOVIS ProventusLaw’s Solutions for FCIS Inspections and AML/CTF Compliance

Lithuania’s Financial Crime Investigation Service (FCIS) has been actively conducting inspections on companies to ensure...

Why Fintech Companies Need Internal Audit?

There is no secret that financial institutions, including fintech companies, need to perform internal audit....

MiCa approved: Will Legal Certainty Drive Investment in Crypto?

With the EU Parliament’s approval of the MiCA regulation some argue that the future of...

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...

Amendments to the Laws Related to Sanctions: What’s New?

In March of 2023, The Parliament of the Republic of Lithuania adopted amendments to the...

Why Should IT Companies take Sanctions Compliance Very Seriously? The Case of Microsoft

US Treasury Department and Microsoft reached a settlement over the tech firm’s apparent violations of...