RegRally Insights: Your Guide To AML/CTF Compliance, December 2024

ECOVIS ProventusLaw welcomes you to its monthly newsletter on Anti-Money Laundering and Counter-Terrorist Financing. It is dedicated to everyone who wants to understand the latest trends and developments, get tips from our experts and deepen their knowledge.

Improved Customer Experience in AML Compliance in Lithuania

Encouraged by the Bank of Lithuania, banks have significantly improved the customer experience by implementing anti-money laundering measures. Four commercial banks operating in Lithuania have improved their customer experience by implementing AML measures in 2023. The measures and actions taken by these banks to improve the customer experience were based on an agreement reached with the Bank of Lithuania at the beginning of 2023, which identified some uncertainties in the AML requirements for consumers.