Updated list of suspicious monetary operations or transactions

The Financial Crime Investigation Service expanded the list of suspicious monetary operations or transactions by adding 7 new items:

  • Monetary operations or transactions are carried out with natural and legal persons from countries that have not bound themselves to international treaties and conventions to combat the proliferation of weapons of mass destruction.
  • PEP transfers funds to states in which he or she does not pursue a professional activity.
  • Transactions related to government orders (e.g. public procurement) are transferred to target areas.
  • U-turn transactions, i.e. funds received from a person or company in a foreign state are immediately transferred to another natural or legal person in the same foreign state.
  • A large number of small denomination banknotes are exchanged for larger denomination banknotes.
  • The same person uses several branches of a currency exchange operator to carry out large currency exchange operations.
  • Client trades in strategic goods as defined in Paragraph 12 of Article 3 of the Law on Control of Import, Transit and Export of Strategic Goods of the Republic of Lithuania with jurisdictions that have serious deficiencies in the AML / CTF regime and prevention of these crimes. Strategic goods are considered as dual-use items (items that can be used for both civil and military purposes) and / or military equipment.

Changes came into force on 1 July 2020.

European Commission has recently carried out a risk assessment to update the list of high-risk third countries which have strategic deficiencies in their AML / CFT regimes and pose significant threats to the financial system of the Union. From 9 July 2020 these countries will be:

1. Afghanistan
2. Democratic People’s Republic of Korea
3. Iran
4. Iraq
5. Pakistan
6. Syria
7. Trinidad and Tobago
8. Uganda
9. Vanuatu
10. Yemen

Subsequently from 1 October 2020, 12 new countries will be added to this list:

1. Barbados
2. the Bahamas
3. Botswana
4. Cambodia
5. Ghana
6. Jamaica
7. Mauritius
8. Mongolia
9. Myanmar
10. Nicaragua
11. Panama
12. Zimbabwe

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