MONEYVAL report on Lithuania: improvements in transparency of legal persons and in powers of customs authorities

Lithuania has improved its measures to combat money laundering and terrorist financing; it has been upgraded from “partially compliant” to “largely compliant” with the FATF (Financial Action Task Force) Recommendations 24 and 32, related to transparency of legal persons and cash couriers, concludes the Council of Europe’s anti-money laundering body MONEYVAL in a follow-up report released on 18 January.

By enhancing the powers of the customs authority to request and obtain further information where a false declaration or disclosure, or failure to declare, has been detected, Lithuania has addressed a significant shortcoming identified earlier.