LITHUANIA: AML/CFT ASSESSMENT ENHANCED FOLLOW-UP REPORT

On 28 January, FATF published this report compiled by FATF-style regional body MONEYVAL.  It sets out the progress that Lithuania has made in improving its level of compliance with the FATF standards, since their mutual evaluation and their 2020 follow-up report. As a result, Recommendation 26 has been re-rated from partially compliant to largely compliant.  Lithuania is now “compliant” with 14 of the forty FATF Recommendations, “largely compliant” with 21 Recommendations and “partially compliant” with five Recommendations.  The country has no “non-compliant” ratings.  Lithuania will remain in enhanced follow-up and will continue to report back to MONEYVAL on progress to strengthen its implementation of AML/CFT measures. Lithuania is expected to report back within 1 years’ time.

https://www.fatf-gafi.org/media/fatf/documents/reports/fur/MONEYVAL-FUR-Lithuania-Nov-2021.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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