LithuaniaThe International Monetary Fund’s staff issued a Mission Concluding Statement following their official visit to Lithuania to monitor the member state’s economic developments.
U.K. parliament member Harriett Baldwin presented a draft report on the threat of corruption to national security during a meeting of the Economic and Security Committee as part of the spring session of NATO’s Parliamentary Assembly being held in Lithuania.
EU lawmakers urge stronger vetting of wealthy customers, Latvia freezes Russian assets, and more, in the weekly roundup.
In our final installment for 2021, the moneylaundering.com legal team revisits our coverage over the past year.
Weekly Roundup: HSBC Lands New AML Penalty, Falcon Private Bank Faces Swiss Fine, and More
Lithuania’s New Financial Intelligence Hub Hits Ground Running
The Bank of Lithuania revoked the license of the Vilnius, Lithuania-based company for serious violations of anti-money laundering and counterterrorist financing requirements.
The Bank of Lithuania fined the Vilnius, Lithuania-based electronic money institution for violations fo the Law on the Prevention of Money Laundering and Terrorist Financing.
| Technical | Effectiveness |
|---|---|
| Compliant : 8 | High : 0 |
| Largely Compliant : 25 | Substantial : 1 |
| Partially Compliant : 7 | Moderate : 10 |
| Non-Compliant : 0 | Low : 0 |
Lithuania's technical compliance was re-rated in a Nov. 30, 2021 follow-up report
| Rank : 9/110 |
| Score : 3.51/10 |
| Rank : 35/179 |
| Score : 60/100 |
| Rank : 105/133 |
| Score : 50/100 |