Lithuanian Central Credit Union Joins the Center of Excellence in Anti-Money Laundering

Anti-money laundering and counter-terrorist financing are integral parts of our operations. We continuously invest in strengthening expertise in this area and expand our team to ensure compliance with the highest standards. Joining the Center of Excellence in Anti-Money Laundering provides us with an opportunity to collaborate more closely with other financial market participants and contribute to the development of more effective prevention measures,” says Mindaugas Vijūnas, CEO and Chairman of the Board of Lithuanian Central Credit Union.

The Center of Excellence in Anti-Money Laundering unites the public and private sectors to strengthen the fight against financial crime in Lithuania. Established in 2021, the Center brings together financial sector participants, supervisory authorities, and law enforcement representatives to share experiences, deepen knowledge, and develop innovative measures to combat money laundering and terrorist financing.

“By joining the Center of Excellence in Anti-Money Laundering, the Lithuanian Central Credit Union will enrich the Center’s activities with its extensive experience and contribute to shaping an effective prevention standard. Different financial market participants becoming members of the Center help to identify problems in various sectors more accurately and collectively strengthen Lithuania’s anti-money laundering efforts,” says Eglė Lukošienė, Director of the Center of Excellence in Anti-Money Laundering.

Membership in the Center will ensure that best practices in money laundering and terrorist financing prevention, fraud risk management, and the implementation of international sanctions are applied at Lithuanian Central Credit Union and its member credit unions within the LKU Group. It will also provide specialists with opportunities to enhance their competencies by actively participating in the Center’s activities.

The Center of Excellence in Anti-Money Laundering emphasizes that financial market participants supervised by the Bank of Lithuania and holding a license issued by the Bank of Lithuania for more than three years, or those listed in the National Development Institutions register for more than three years, are eligible for membership.

More information about membership opportunities, membership fees, application review, and the initial inquiry form can be found in the “Membership” section on the Center’s website: https://amlcenter.lt/naryste/.

About LKU Credit Union Group

LKU Group is the largest credit union group in Lithuania, uniting 44 credit unions supervised by the Lithuanian Central Credit Union (LCCU). LKU Group credit unions provide a wide range of financial services to individuals, businesses, and the agricultural sector – from payment cards to loans and deposits. Consistent growth and sustainable decisions in 2024 have allowed LKU Group to exceed the €1 billion asset threshold for the first time.