LithuaniaThe Lithuanian Parliament passed a resolution calling on the European Union to explore the possibility of and support a region-wide ban on imports of grain from Russia and Belarus.
The Speakers of the Lithuanian Parliament and the Canadian House of Commons held discussions in Ottawa regarding Canada’s role in the security of the Baltic Sea Region and continued efforts to support Ukraine.
Baltic Bankers, Regulators Discuss Sanctions, AML Supervisory Challenges
Russian sanctions-evasion schemes connected to the Baltics continue to grow in complexity and sophistication, officials told an industry event in Latvia on Wednesday.
Records Identify LLCs, Other Entities Behind Fintech Accused of Laundering Billions
Records obtained and reviewed by ACAMS moneylaundering.com link a Lithuanian fintech at the center of a cross-border investigation to LLCs and other legal entities in Britain, Latvia, South Africa, the Seychelles and other jurisdictions.
The Bank of Lithuania revoked the license of the Vilnius, Lithuania-based electronic money institution for serious violations of the Law on Electronic Money and Electronic Money Institutions, Law on Payments, and the Law on the Prevention of Money Laundering and Terrorist Financing.
The Bank of Lithuania fined the Vilnius-based financial services company €280,000 and revoked its license after an inspection found serious and systematic violations of anti-money laundering and counterterrorist financing requirements.
| 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 |