The Centre of Excellence in Anti-Money Laundering starts its activities in Lithuania

[17.05.2021]

This is a unique public-private partnership example of mobilizing their efforts to combat money laundering and terrorist financing.

The center will share information on money laundering and terrorist financing typologies by setting up an information exchange platform. The Centre's specialists will carry out research, assessments and analyzes and use them to develop generalized guidelines, recommendations and methodologies for market participants and to assist them in carrying out internal risk assessments for the prevention of money laundering and terrorist financing.

This competence center will contribute to legislative initiatives to improve the money laundering and terrorist financing prevention system and strengthen the competence of market participants' employees in the field of money laundering and terrorist financing prevention, will organize trainings, seminars, conferences and other events.

The founders of the Center are the Ministry of Finance, the Bank of Lithuania, AB SEB bankas, Swedbank, AB, OP Corporate Bank plc Lithuania branch, AB Šiaulių bankas, Luminor Bank AS Lithuanian branch, UAB Medicinos bankas, Revolut Bank, UAB and AS Citadele banka Lithuanian branch.