MONEYVAL: Lithuania is Making Progress on AML/CFT Compliance

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MONEYVAL: Lithuania is Making Progress on AML/CFT Compliance

MONEYVAL has confirmed that the Lithuanian government has finally gained sufficient understanding of the AML/CFT requirements.

Nevertheless, MONEYVAL reports that it found the deficiencies in the regulation of virtual assets leading to a downgrading of Lithuania’s rating from “largely compliant” to “partially compliant”.

At this moment, Lithuania has managed to achieve the full level of compliance on 11 of 20 FAFT Recommendations.

MONEYVAL has left Lithuania on the enhanced follow-up process of the compliance review.

MONEYVAL has conducted the last review in August 2020.

Eltoma Corporate Services is providing a range of services relating to AML/CFT checks for clients and partners in various parts of the world.