By applying the best practices in financial crime prevention, we contribute to a more financially secure society.
By combining knowledge and expertise from the public and private sectors, we help businesses promptly identify financial crime threats and counteract them.
The Center was established to provide institutions, businesses, and members of the public with the most effective anti-money laundering tools possible. To do so, we combine the expertise and resources of both public and private financial organisations.
Established in 2021, The Center of Excellence in Anti-Money Laundering sets an example of how — by combining the knowledge and good practices of public and private sector experts and taking advantage of the latest international trends — we can strengthen money laundering prevention at a national level.
Currently, there are around 20 anti-money laundering centers based on public-private partnerships around the world. The Lithuanian model is unique because it is not limited to the initiative of individual institutions and market participants. We’re fighting money laundering at a national level.
Our task is to help create the most effective Lithuanian financial crime prevention system and contribute to creating a positive international reputation for the country. To achieve this goal, we encourage cooperation, exchange of information, and sharing the best practices between different sectors of the economy.
The Center of Excellence in Anti-Money Laundering was established by the Ministry of Finance, the Bank of Lithuania, and the country's largest commercial banks. We aim to coordinate and ensure cooperation between different sectors.
To strengthen Lithuania's money laundering and terrorist financing prevention system as well as its international reputation while focusing on the importance of cooperation, education, and an advanced, transparent, and open financial system.
An innovative, progressive, and leadership-driven Center of Excellence based on public-private sector cooperation.
PARTNERSHIP
Cooperation is the foundation of our activities — together, we are stronger. Shared goals and mutual support determine our success.
RELIABILITY
We set ourselves the highest performance standards — we are moral and integral, and encourage cooperation based on long-term trust.
COMMITMENT
Continuous improvement is what we strive for — we are constantly learning, improving our business processes, and ready to take up new opportunities.
FLEXIBILITY
We are bold, open to change, and able to respond to challenges promptly.
Effective financial fraud prevention is only possible if public and private institutions actively share their experience and knowledge. The Center of Excellence in Anti-Money Laundering ensures smooth cooperation between existing partners and aims to expand the number of partners.
An informed and educated public is an essential component of a resilient financial system. We contribute to its development by enhancing public and private sector specialists’ knowledge and competencies, and actively informing the public about financial crime trends.
Financial crime is becoming more sophisticated, and financial fraudsters are becoming increasingly skilled. Thus, innovative solutions are also needed to combat it. The Center conducts analyses and research using the most advanced technological tools and actively administers a platform for cooperation between the public and private sectors.
We actively analyse money laundering typologies, statistics, and exchange information with financial market participants, thus identifying and managing risks.
We can counteract financial crime threats only by working together, which is why we work actively with government and law enforcement authorities. This helps us assess potential risks more reliably and respond appropriately.
Effective financial fraud prevention is only possible if public and private institutions actively share their experience and knowledge. In addition to ensuring smooth cooperation of existing partners, the Center aims to expand the number of partners.
Financial crime is becoming more sophisticated, and financial fraudsters are becoming increasingly skilled. Thus, innovative solutions are also needed to combat it. The Centre’s analysis and research are carried out using state-of-the-art technological tools and through the active development and management of public-private sector cooperation.
An informed and educated public is an essential component of a resilient financial system. We contribute to its development by enhancing public and private sector specialists’ knowledge and competencies and actively informing the public about financial crime trends.
We enhance the society’s financial security by being a trusted voice in the public sphere.
A proposal to ban Lithuanians from doing any business with Russia may bring unintended secondary effects, warn industry reps. Few firms trade with Russia, they say, but many need to transit the country to bring their goods to Asia.
Learn moreArcaPay, an international company providing currency conversion and international payment services to businesses, has this week made it possible for its clients and other businesses to check their business partners for international financial sanctions for free. To this end, the company has transformed its internal tool, which until now has been used in its day-to-day operations for customer screening and transaction monitoring processes. The tool is the first such freely available public information database in Lithuania and one of the very first in the Baltics.
Learn moreThe Ministry of Finance (MoF) together with the Bank of Lithuania (BoL), Financial Crime Investigation Service (FCIS) and the Centre of Excellence in Anti-Money Laundering have prepared the amendments to the Law on the Prevention of Money Laundering and Terrorist Financing aimed at strengthening the management of money laundering risks in the cryptocurrency sector, increasing its transparency and more stringent regulation of the operating conditions of service providers.
Learn moreA new anti-money laundering centre housed in the Baltic state’s central bank is growing and hiring fast. It aims to turn Lithuania into an AML hub – and to address and reverse the region’s questionable reputation.
Learn moreJekaterina Govina, Director of the Financial Market Supervision Service of the Bank of Lithuania, has told the story of creating the Centre of Excellence in Anti-Money Laundering and how its five initial tasks evolved and improved over time
Learn moreLithuania has opened a Centre of Excellence in Anti-Money Laundering (AML) as it looks to boost co-ordination between state authorities and the private sector in tackling illegal financial activity.
Learn moreToday, the Centre of Excellence in Anti-Money Laundering starts its activities in Lithuania. Bringing together representatives of both the public and private sectors, it aims to lift anti-money laundering practices implemented in the country to a whole new level. The Centre will be led by Eimantas Vytuvis, a highly experienced lawyer and certified anti-money laundering specialist.
Learn moreAs of October 2020, Lithuania’s Government gave the green light by approving the Center of Excellence in Anti-Money Laundering. A unique public-private cooperation project initiated and successfully progressed Lithuania’s Bank to strengthen money laundering and fight against terrorist financing.
Learn moreThis 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.
Learn more‘CENTRE OF EXCELLENCE’ in anti-money laundering has been given the seal of approval by the Lithuanian government.
Described as a “unique public-private partnership,” by the Bank of Lithuania, the initiative aims to act as a platform for the exchange of information on money laundering and terrorism financing typologies.
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