Financial Crime Prevention Solutions in Lithuania
A successful compliance function and crime prevention solutions are fundamental requirements for any effective business in today's changing environment. Our team of AML will help you to achieve high regulatory assumptions and soften the risks of laundering money.
We have experience in handling large AML projects for various international clients and actively assist clients with observance issues through audits, ongoing and training consultative roles, and monitoring.
Right now, we are working with over a thousand financial institutions, many are with high-risk, international components to their business. That is why our team is experienced with issues of AML and can help different sizes and complication companies and clients to accomplish a stable compliance environment.
The members of our AML team have extensive AML backgrounds and include a lot of Certified Specialists of Anti-Money Laundering (CAMS), as well as professionals, who are working seasonally and have worked in different environments of high risk of Money Laundering. Also, our team is included former regulatory examiners, who bring lots of value of perspective to Anti-Money Laundering commitment.
Financial Services Industry and Products & Fintech Licensing in the Single European Market
In Europe financial institutions, like Fintech companies, electronic money institutions, insurance companies, Forex dealers, and banks are keeping the importance on risk management and higher regulations. Such business opportunities as providing various services in all EU/EEA states, being pleased by the world's biggest market of more than 450 million wealthy customers and more than 20 million worldwide businesses can be opened by getting a license from a financial institution in one of the countries of European Union (EU) or European Economic Area (EEA).
Any financial company (Fintech included) that’s license and registration was made in the area of Lithuania brings an advantage over other companies and opens up the European financial market at undoubtedly lower costs of operations and incorporations. Lithuania and especially its capital Vilnius makes itself pleasant for large international finance companies as well as Fintech start-ups because of very fast speed of internet, quality talent pool, brilliant infrastructure, and positive environment. The managerial environment and supportive ecosystem for foreign Fintech companies are approved by the official policy of the Bank of Lithuania and even the Government.
In this way, a lot of foreign companies and Fintech start-ups are being invited to operate in Lithuania. Lithuania is a preferred jurisdiction for business people finances internationally, who try to get licenses for their European and even global financial activities because of its administrative attitude and lower inclusion of financial institutions.
Scalable and Sustainable Solutions in Gap Analysis
As all financial institutions grow, both organically and through acquirement, AML programs must adapt to changes. Our team is able to find gaps, that are in need of filling by the realization of the AML program in its current condition and by making comparisons to the program that the perspective will require.
Anti-money Laundering Services and Our Approach:
• Outsourced risk assessment;
• Risk rating methodology consulting;
• Risk assessments;
• System tuning and boost;
• Enhanced due diligence;
• Selection of system;
• Regulatory issue consultations;
• New product and service consulting;
• Independent model and system validation;
• Independent audit and testing;
• Look-back projects.
With our infrastructure of practice, we have all the resources in place. The resources regularly control and clarify the changing expectations around AML and provide essential training, and understanding of our professionals and work programs, so they can always be able to consult clients to handle emerging problems.