Lithuanian lawmakers plan to legislate an end to a policy that exempts transactions by and to government institutions, foreign embassies and businesses from enhanced scrutiny after an intergovernmental group warned it risks enabling bribery-related money laundering. In a 96-page report, the Organization for Economic Cooperation and Development noted Lithuania’s overall progress in overhauling its rules against financial crime, but said the exemptions inhibit the detection and disclosure of suspected laundering of bribe payments to foreign officials, diplomats and state-owned firms. The exemptions are found in the country’s anti-money laundering law, and exclude “state and municipal institutions, other budgetary institutions, the...
The Organisation for Economic Co-operation and Development published a Phase 2 report concerning Lithuania's implementation of the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.
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