MONEYVAL AML/CFT REPORT ON LITHUANIA: IMPROVEMENTS IN TRANSPARENCY OF LEGAL PERSONS AND IN POWERS OF CUSTOMS AUTHORITIES

A news release from the Financial Crime Investigation Service advises that an AML/CFT evaluation follow-up from Moneyval says that Lithuania has improved its measures to combat money laundering and terrorist financing; it has been upgraded from “partially compliant” to “largely compliant” with FATF Recommendations 24 and 32, related to transparency of legal persons and cash couriers.  Overall, Lithuania has achieved full compliance with 8 of the 40 FATF Recommendations constituting the international AML/CFT standard and retains minor deficiencies in the implementation of 27 Recommendations where it has been found “largely compliant”.  5 Recommendations remain “partially compliant” and Lithuania has no “non-compliant” rating.  Consequently, Lithuania is expected to report back to MONEYVAL on further progress to strengthen its implementation of AML/CFT measures in 1 year’s time.

https://www.fntt.lt/en/press-releases/moneyval-report-on-lithuania-improvements-in-transparency-of-legal-persons-and-in-powers-of-customs-authorities/4265

https://www.coe.int/en/web/moneyval/-/moneyval-report-on-lithuania-improvements-in-transparency-of-legal-persons-and-in-powers-of-customs-authorities

https://rm.coe.int/moneyval-2022-14-fur-lt/1680a9c7f1

https://www.buymeacoffee.com/KoIvM842y

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: