Lithuania: Parliament Completes Amendments to AML Act VIII-275 for Transposition of 5th AMLD

On September 18, 2019, the Lithuanian parliament (Seimas) published amendments to the Money Laundering and Terrorist Financing Prevention Law VIII-275, modifying Articles 2, 4, 5, 7, 8, 9, 10, 11, 12, 13, 14, 15, 17, 21, 22, 24, 25, 26, 27, 28, 29, 48, 49 and 51, with additional amendments to Articles 7, 14 and 25 of the annex.

The draft law aims to amend and supplement the provisions of the AML Law in accordance with the provisions of 5th Anti-Money Laundering Directive, by strengthening the legal framework for money laundering and terrorist financing, including measures such as a register of information and determining the conditions under which information received from the supervisory authority of an EU member state may be transmitted for supervisory purposes. 

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