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Lithuania approves Centre of Excellence in Anti-Money Laundering

Thursday 29 October 2020 15:06 CET | News

The Lithuanian government has approved the the establishment of the Centre of Excellence in Anti-Money Laundering, a public-private project initiated by the Bank of Lithuania.

The Centre of Excellence in Anti-Money Laundering is set up to mobilise public and private efforts in combating money laundering and terrorist financing (AML/CTF) as well as to strengthen the prevention framework. The Centre was established by the Ministry of Finance of the Republic of Lithuania, the Bank of Lithuania, and the country’s commercial banks, while other financial market participants will also be invited to join its activities in the future. 

The Financial Crime Investigation Service, the Police Department of the Republic of Lithuania, the State Tax Inspectorate and the Prosecutor General’s Office are expected to take joint action with the Centre of Excellence in Anti-Money Laundering as well, according to the official press release.


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Keywords: Lithuania, AML, anti-money laundering, Bank of Lithuania, CTF, counter terrorism financing
Categories: Banking & Fintech | Digital Identity, Security & Online Fraud
Countries: Lithuania
This article is part of category

Banking & Fintech