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

MONEYVAL has published the 3rd enhanced follow up report (FUR) & Technical Compliance Re-Rating on Lithuania summarising the anti-money laundering counter financing of terrorism (AML/CFT) measures in place in Lithuania as adopted by the MONEYVAL Committee at its 64th Plenary Session (5-9 December 2022).
The mutual evaluation report (MER) of Lithuania was adopted in December 2018 and its 1st and 2nd Enhanced Follow-up Reports in June 2020 and November 2021 respectively. The reports analyse the progress of Lithuania in addressing the technical compliance (TC) deficiencies identified in its MER. Re-ratings are given where sufficient progress has been made. Overall, the expectation is that countries will have addressed most if not all TC deficiencies by the end of the third year from the adoption of their MER. This 3rd Enhanced Follow-up Report, dated December 2022, does not address what progress Lithuania has made to improve its effectiveness.
Lithuania has made some progress to address the technical compliance deficiencies identified in the MER and in subsequent Enhanced FURs. As a result of this progress, Lithuania has been re- rated on Recommendations 24 and 32. The country asked for a re-rating for R.28 which is also analysed, but no re-rating has been provided.
Overall, Lithuania has made some progress in addressing the TC deficiencies identified in its 5th Round MER and subsequent FURs and has been re-rated on two Recommendations (2 upgrades). Recommendations 24 and 32 initially rated as PC are re-rated as LC. Lithuania is encouraged to continue its efforts to address the remaining deficiencies. Lithuania will remain in enhanced follow-up and will continue to report back to MONEYVAL on progress to strengthen its implementation of AML/CFT measures. Lithuania is expected to report back in one year’s time.