1. AML/CFT development since introduction of the 3 rd EU AML Directive 5-6 of November, 2009 Tallinn

2. Regulatory AML/CFT framework

3. Law of the Republic of Lithuania on the Prevention of Money Laundering and Terrorist Financing

4. Resolutions of the Government of the Republic of Lithuania

5. Other legal acts (e.g. Law on Commercial Banks of Lithuania)

6. Group AML/CFT requirements

7. Controlling institutions

8. The Bank of Lithuania

9. The Financial Crime Investigation Service (aka FIU)

10. The Securities Commission of the Republic of Lithuania

11. Insurance Supervisory Commission of the Republic of Lithuania

12. What are key AML/CFT requirements ?

13. Identification of beneficial owner

14. P olitically E xposed P erson?

15. Customer risk scoring

16. Monitoring of cash operations

17. Screening against sanction lists

18. Keeping the Register on transactions and regularly submitting it to FIU

19. Reporting SAR/STR to FIU

20. Regular AML/CFT training for staff

21. Brief overview of AML/CFT efforts

22. KYC due diligence (Beneficial Owner, PEP)

23. High risk customers’ adoption committee

24. New Products’ Approval Committee

25. Screening against designated sanction lists

26. Automated monitoring of financial transactions in order to identify suspicious activities

27. Class room/e-training for staff

28. Main AML/CFT challenges

29. Staff ’s reluctance to ask inconvenient questions

30. Dissatisfied and irate customers

31. Identification of beneficial owners

32. Due diligence of foreign nationals

33. Feedback from FIU

34. Intricacies of automated monitoring systems

35. Exchange of information about blacklisted customers

36. Thank you for your attention !