Lithuania Ups Payments, E-Money Supervision After AML Critique

Authorities in Lithuania have established a specialist division to oversee e-money and payments businesses and introduced spruced-up reporting requirements following a bruising review of its money laundering prevention framework.

Lithuania has emerged as a wildly popular licensing jurisdiction for e-money and payment institutions, attracting the likes of Google and Revolut with promises of approval within three months and a pioneering specialist banking licence.

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