Consolidated version valid as of 1 December 2016
REPUBLIC OF LITHUANIA
LAW ON
THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING
19 June 1997 No VIII-275
(As last amended on 3 November 2016 No XII-2693)
Vilnius
CHAPTER ONE
GENERAL PROVISIONS
Article 1. Purpose of the Law
1. The purpose of this Law shall be to establish measures for the prevention of money laundering and/or terrorist financing and designate institutions responsible for the implementation of money laundering and/or terrorist financing prevention measures.
2. The purpose of this Law shall be to ensure the implementation of legal acts of the European Union specified in the Annex to this Law.
Article 2. Definitions
1. Close associate shall mean:
1) a natural person who, together with the person who performs or performed the duties indicated in paragraph 19 of this Article, participates in the same legal person or maintains other business relationships;
2) a natural person who is the sole owner of the legal person set up or operating de facto with the aim of acquiring property or any other personal benefit for the person who performs or performed the duties indicated in paragraph 19 of this Article.
2. Immediate family members shall mean the spouse, the person with whom partnership has been registered (hereinafter: the ‘cohabitant’), parents, brothers, sisters, grandparents, grandchildren, children, children’s spouses and children’s cohabitants.
3. Person shall mean a natural or legal person of the Republic of Lithuania or a foreign state or an undertaking of a foreign state.
4. Business relationship shall mean a business, professional or commercial relationship of a client and financial institutions or other entities which is connected with their professional activities and which is expected, at the time when the contact is established, to have an element of duration.
5. European supervisory authorities shall mean the European Banking Authority established under Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ 2010 L 331, p. 12), the European Insurance and Occupational Pensions Authority established under Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ 2010 L 331, p. 48), and the European Securities and Markets Authority established under Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ 2010 L 331, p. 84).
6. European Union Member State shall mean a state which is a European Union Member State and a state of the European Economic Area.
7. Shell bank shall mean a legal person entitled to engage in a credit institution’s activities of one or more types, but not pursuing any actual activities, which has no actually operating governing and managing bodies and which is unaffiliated with a governed financial group.
8. Financial institutions shall mean credit institutions and financial undertakings as defined by the Law of the Republic of Lithuania on Financial Institutions, electronic money and payment institutions as defined by the Law of the Republic of Lithuania on Payments, operators of currency exchange offices as defined by the Law of Republic of Lithuania on the Operators of Currency Exchange Offices, operators of crowdfunding platforms as defined by the Law of the Republic of Lithuania on Crowdfunding as well as investment companies with variable capital.
9. Suspicious monetary operation or transaction shall mean a monetary operation or transaction involving property which is suspected of being, directly or indirectly, derived from criminal activity or participation in such activity and/or is associated with terrorist financing.
10. Other entities shall mean:
1) certified auditors who perform audits independently or audit firms (hereinafter: the ‘auditors’);
2) insurance undertakings engaged in life insurance activities and insurance brokerage firms engaged in insurance mediation activities relating to life insurance;
3) judicial officers or persons entitled to perform the actions of judicial officers;
4) undertakings providing accounting or tax advisory services;
5) notaries and persons entitled to perform notarial actions, as well as advocates and advocates’ assistants, whether by acting on behalf of and for their client or by assisting in the planning or execution of transactions for their client concerning the purchase or sale of immovable property or undertakings, management of client money, securities or other assets, opening or management of bank or securities accounts, organisation of contributions necessary for the establishment, operation or management of legal persons and other organisations, emergence or creation and operation or management of trust and company incorporation and administration service providers and/or related transactions;
6) providers of trust or company incorporation or administration services not referred to in points 1, 4 and 5 of this paragraph;
7) persons engaged in economic and commercial activities involving trade in items of immovable property, precious stones, precious metals, movable cultural goods, antiques or any other assets the value whereof exceeds EUR 15 000, or an equivalent amount in foreign currency, provided that payments are made in cash;
8) gaming companies;
9) postal service providers providing domestic and international postal money order services (hereinafter: the ‘postal service providers);
10) closed-ended investment companies.
11. Customer shall mean a person performing monetary operations or concluding transactions with a financial institution or another entity, except for state and municipal institutions, other budgetary institutions, the Bank of Lithuania, state or municipal funds and foreign diplomatic missions or consular posts.
12. Beneficial owner means a natural person who owns the customer (a legal person or foreign undertaking) or controls the customer and/or the natural person on whose behalf a transaction or activity is being conducted. The beneficial owner shall include:
1) in the case of a legal person: the natural person who owns or controls the legal person through direct or indirect ownership or control over a sufficient percentage of the shares or voting rights in that legal person, including through bearer share holdings, other than companies listed on a regulated market that are subject to disclosure requirements consistent with the European Union legislation or subject to equivalent international standards (a percentage of 25 % plus one share shall be deemed sufficient to meet this criterion); also the natural person who otherwise exercises control over the management of a legal person;
2) in the case of a legal person which administers and distributes funds: the natural person who is the beneficiary of 25 % or more of the property of the legal person (where the future beneficiaries have already been determined); the class of persons in whose interest the legal person is set up or operates (where the individuals that benefit from this legal person have yet to be determined); the natural person who exercises control over 25% or more of the property of the legal person.
13. Suspicious monetary operation or transaction shall mean a monetary operation or transaction having features of at least one criterion stipulated by the Government of the Republic of Lithuania based on which a monetary operation or transaction is considered suspicious, but these features are not sufficient for the monetary operation or transaction to conform to the criterion and to be recognised as suspicious.
14. Trust and company incorporation and administration service provider shall mean any natural or legal person that by way of business provides any of the following services to third parties:
1) incorporating companies or other legal persons;
2) acting as or arranging for another person to act as a director of a company or occupy another senior position, a partner of a partnership or a similar position in relation to another legal person (natural person);
3) providing a registered office, business address, correspondence or administrative address or other related services for a company, a partnership or any other legal person;
4) acting as or arranging for another person to act as a trustee of an express trust or a similar legal arrangement;
5) acting as a nominee shareholder for another person other than a company listed on a regulated market that is subject to disclosure requirements in conformity with the European Union legislation or subject to equivalent international standards or arranging for another person to act as a nominee shareholder.
15. Money shall mean banknotes and coins issued by the Bank of Lithuania and funds in accounts, banknotes issued by other states, treasury notes, coins and funds in accounts which are legal tender, other means of payment expressed in monetary terms.
16. Monetary operation shall mean any payment, transfer or receipt of money, other than payments to state and municipal institutions, other budgetary institutions, the Bank of Lithuania state or municipal funds, foreign diplomatic missions or consular posts or settlement with these entities.
17. Money laundering shall mean:
1) the conversion or transfer of property, in the knowledge that such property is derived from criminal activity or from an act of participation in such activity, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission of such activity to evade the legal consequences of his action;
2) the concealment or disguise of the true nature, origin, source, location, disposition, movement, rights with respect to, or ownership of property, in the knowledge that such property is derived from criminal activity or from an act of participation in such activity;
3) the acquisition, possession or use of property, in the knowledge, at the time of acquisition/transfer, that such property was derived from criminal activity or from an act of participation in such activity;
4) preparation, attempts to commit and aiding and abetting the commission of any of the acts mentioned in points 1-3 of this paragraph.
18. Prevention of money laundering and/or terrorist financing shall mean the implementation of measures specified in this Law.
19. Politically exposed natural persons shall mean natural persons who are or have been entrusted with prominent public functions and their immediate family members or persons known to be close associates of such persons.
20. Prominent public functions shall mean the following functions in the Republic of Lithuania, the European Union, international or foreign state institutions:
1) heads of State, heads of government, ministers, vice-ministers or deputy ministers, secretaries of State, chancellors of parliament, government or ministries;
2) members of parliaments;
3) members of supreme courts, of constitutional courts or of other high-level judicial bodies whose decisions are not subject to further appeal;
4) members of the management body of the Lithuanian Chamber of Auditors (hereinafter: the ‘Chamber of Auditors’) or of the boards of central banks;
5) ambassadors, chargés d'affaires or high-ranking officers in the armed forces;
6) members of the management or supervisory bodies of State-owned enterprises;
7) heads and deputy heads of international intergovernmental organisations and members of their management or supervisory bodies;
8) heads and deputy heads of political parties and members of their management bodies.
21. Terrorist financing shall mean any act which constitutes an offence within the meaning of Article 2 of the International Convention for the Suppression of the Financing of Terrorism of 9 December 1999.
22. Third party shall mean a financial institution, another entity or a financial institution or another entity registered in another European Union Member State or a state that is not a Member State of the European Union (hereinafter: a ‘third country’) meeting the following requirements:
1) they are subject to mandatory professional registration, recognised by law;
2) they apply due diligence requirements and information storage requirements in respect of customers and beneficial owners as laid down or equivalent to those laid down in this Law or they are situated in a third country which imposes equivalent requirements to those laid down in this Law.
23. Property shall mean items, money, securities and other financial instruments, other assets and property rights, results of intellectual activities, information, actions and results of the actions, also other material and non-material goods.
CHAPTER TWO
INSTITUTIONS RESPONSIBLE FOR THE PREVENTION OF MONEY LAUNDERING AND/OR TERRORIST FINANCING
Article 3. Institutions responsible for the prevention of money laundering and/or terrorist financing
The Government of the Republic of Lithuania (hereinafter: the ‘Government’), the Financial Crime Investigation Service under the Ministry of the Interior of the Republic of Lithuania (hereinafter: the ‘Financial Crime Investigation Service’), the State Security Department of the Republic of Lithuania (hereinafter: the ‘State Security Department’), the Bank of Lithuania, the Customs Department under the Ministry of Finance of the Republic of Lithuania, the Department of Cultural Heritage Protection under the Ministry of Culture of the Republic of Lithuania (hereafter: the ‘Department of Cultural Heritage Protection’), the Gaming Control Authority, the Chamber of Notaries, the Chamber of Auditors, the Chamber of Judicial Officers of Lithuania, the Lithuanian Assay Office and the Lithuanian Bar Association shall be the institutions responsible, within their remit, for the prevention of money laundering and/or terrorist financing stipulated by this Law.
Article 4. Duties of the institutions responsible for the prevention of money laundering and/or terrorist financing
1. The Bank of Lithuania shall approve instructions intended for credit institutions, electronic money institutions, payment institutions, operators of currency exchange offices, operators of crowdfunding platforms, insurance undertakings engaged in life insurance activities and insurance brokerage firms engaged in insurance mediation activities relating to life insurance, financial brokerage firms, management companies, investment companies and the depository aimed at preventing money laundering and/or terrorist financing, supervise the activities of these entities related to the implementation of money laundering and/or terrorist financing prevention measures and give advice to these entities on the issues relating to the implementation of the mentioned instructions.
2. The Department of Cultural Heritage Protection shall approve instructions intended for persons engaged in economic and commercial activities related to trading in movable cultural goods and/or antiques aimed at preventing money laundering and/or terrorist financing, supervise the activities of these entities related to the implementation of money laundering and/or terrorist financing prevention measures and give advice to these entities on the issues relating to the implementation of the mentioned instructions.
3. The Gaming Control Authority shall adopt instructions intended for gaming companies aimed at preventing money laundering and/or terrorist financing, supervise the activities of these companies related to the implementation of money laundering and/or terrorist financing prevention measures and give advice to these companies on the issues relating to the implementation of the mentioned instructions.
4. The Lithuanian Bar Association shall approve instructions intended for advocates and advocates’ assistants aimed at preventing money laundering and/or terrorist financing, supervise the activities of advocates and advocates’ assistants related to the implementation of money laundering and/or terrorist financing prevention measures and give advice to the advocates and advocates’ assistants on the issues relating to the implementation of the mentioned instructions.
5. The Chamber of Notaries shall approve instructions intended for notaries aimed at preventing money laundering and/or terrorist financing, supervise the activities of notaries related to the implementation of money laundering and/or terrorist financing prevention measures and give advice to the notaries on the issues relating to the implementation of the mentioned instructions.
6. The Chamber of Auditors shall approve instructions intended for auditors aimed at preventing money laundering and/or terrorist financing, supervise the activities of auditors related to the implementation of money laundering and/or terrorist financing prevention measures and give advice to the auditors on the issues relating to the implementation of the mentioned instructions.
7. The Chamber of Judicial Officers of Lithuania shall approve instructions intended for judicial officers or persons entitled to perform the actions of judicial officers aimed at preventing money laundering and/or terrorist financing, supervise the activities of judicial officers or persons entitled to perform the actions of judicial officers related to the implementation of money laundering and/or terrorist financing prevention measures and give advice to judicial officers or persons entitled to perform the actions of judicial officers on the issues relating to the implementation of the mentioned instructions.
8. The Lithuanian Assay Office shall approve instructions intended for persons engaged in economic and commercial activities related to trading in precious stones and/or precious metals aimed at prevent money laundering and/or terrorist financing, supervise the activities of these entities related to the implementation of money laundering and/or terrorist financing prevention measures and give advice to these entities on the issues relating to the implementation of the mentioned instructions.
9. The Financial Crime Investigation Service shall approve instructions intended for other entities not specified in paragraphs 1-8 of this Article aimed at preventing money laundering and/or terrorist financing, supervise the activities of financial institutions and other entities related to the prevention of money laundering and/or terrorist financing and provide methodological assistance to them.
10. The institutions referred to in paragraphs 1-8 of this Article must designate senior employees for organising the implementation of money laundering and/or terrorist financing prevention measures specified in this Law and for liaising with the Financial Crime Investigation Service.
11. The Financial Crime Investigation Service must, not later than within seven working days, be notified in writing of the designation as well as replacement of the employees specified in paragraph 12 of this Article.
12. The institutions specified in paragraphs 1-8 of this Article and the Financial Crime Investigation Service shall, in accordance with the mutually determined procedure, cooperate and exchange information on the results of the performed inspections of entities’ activities related to the implementation of money laundering and/or terrorist financing prevention measures.
Article 5. Functions of the Financial Crime Investigation Service in implementing money laundering and/or terrorist financing prevention measures
The Financial Crimes Investigation Service shall, within its remit:
1) collect and record the information indicated in this Law about the customer’s monetary operations and transactions and about the customer carrying out such operations and transactions;
2) collect, analyse and publish, in accordance with the procedure established by legal acts, information relating to the implementation of money laundering and/or terrorist financing prevention measures and the effectiveness of the system of prevention of money laundering and/or terrorist financing (also the information on the prevention of the use of the financial system for the purpose of money laundering and/or terrorist financing as specified in Article 33(2) of Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and/or terrorist financing);
3) forward to the competent state or foreign institutions information on the possible criminal act or established indications of infringements of legal acts, collected during the analysis of the information received on the basis of this Law, provide, in accordance with the procedure established by the Government, to law enforcement and other state institutions information on the monetary operations and transactions carried out by the customer;
4) conduct pre-trial investigation into the legalisation of money or property derived from criminal activity;
5) cooperate and exchange information with foreign state institutions and international organisations implementing money laundering and/or terrorist financing prevention measures;
6) approve criteria for identifying possible money laundering and suspicious monetary operations or transactions;
7) submit proposals concerning the improvement of the system of prevention of money laundering and/or terrorist financing to other institutions responsible for the prevention of money laundering and/or terrorist financing;
8) notify financial institutions and other entities, law enforcement and other state institutions about the results of analysis of and investigation into their reports on suspicious monetary operations or transactions, observed indications of possible money laundering and/or terrorist financing or infringements of this Law;
9) cooperate, in accordance with the procedure laid down by the laws and other legal acts of the Republic of Lithuania under Regulation (EU) No 1093/2010, Regulation (EU) No 1094/2010 and Regulation (EU) No 1095/2010, with European supervisory authorities and provide them with all the information necessary for the achievement of their tasks.
Article 6. Functions of the State Security Department in implementing terrorist financing prevention measures
1. The State Security Department shall:
1) collect and analyse intelligence relating to terrorist financing;
2) cooperate with foreign state institutions and international organisations collecting information about terrorist financing;
3) provide information to the institutions listed in Article 4 of this Law on the possible criteria for identification of terrorist financing.
2. The State Security Department and the Financial Crime Investigation Service shall cooperate and exchange information in accordance with the procedure established by the Government in implementing terrorist financing prevention measures.
Article 7. Rights of the Financial Crime Investigation Service in implementing money laundering and/or terrorist financing prevention measures
1. The Financial Crime Investigation Service shall, within its remit, have the right:
1) to obtain from the institutions referred to in paragraphs 1-8 of Article 4 of this Law, other state institutions (hereinafter: the ‘institutions’), financial institutions and other entities, except for advocates and advocates’ assistants, data and documents on monetary operations and transactions necessary for the performance of its functions;
2) to obtain from institutions, financial institutions and other entities information related to the implementation of money laundering and/or terrorist financing prevention measures;
3) to coordinate the activities of institutions (except for the State Security Department) related to the implementation of money laundering and/or terrorist financing prevention measures;
4) to instruct institutions, financial institutions and other entities about the circumstances and conditions for possible infringements of laws and other legal acts related to the implementation of money laundering and/or terrorist financing prevention measures. The institutions, financial institutions and other entities must examine the instructions of the Financial Crime Investigation Service and, not later than within seven working days following the receipt of the instructions, report to the Financial Crime Investigation Service on the measures taken;
5) to instruct the financial institutions and other entities, except for notaries or persons entitled to perform notarial actions, advocates or advocates’ assistants and judicial officers or persons entitled to perform the actions of judicial officers to suspend, for up to ten working days, the suspicious monetary operations or transactions carried out.
2. The rights of officers of the Financial Crime Investigation Service conducting pre-trial investigation into the legalisation of money or property derived from criminal activity shall be regulated by the Code of Criminal Procedure.
Article 8. Cooperation of state institutions
Law enforcement and other state institutions must report to the Financial Crime Investigation Service about any observed indications of possible money laundering and/or terrorist financing, infringements of this Law and the measures taken against the infringers. The data which must be communicated by the state institutions to the Financial Crime Investigation Service, and the procedure for communicating such information shall be established by the Government.
CHAPTER THREE
MONEY LAUNDERING AND/OR TERRORIST FINANCING PREVENTION MEASURES
Article 9. Customer and beneficial owner due diligence
1. Financial institutions and other entities must take measures and perform due diligence on the customer and beneficial owner:
1) prior to establishing a business relationship;
2) prior to carrying out one-off or several interlinked monetary operations or concluding transactions amounting to EUR 15 000 or more, or an equivalent amount in foreign currency, whether the transaction is carried out in a single operation or in several operations which are linked, except for the cases where the identity of the customers and beneficial owners has already been established;
3) prior to exchanging cash, where the amount exchanged exceeds EUR 6 000 or an equivalent amount in foreign currency;
4) when providing domestic and international postal money order services, if the amount of money sent or received exceeds EUR 600 or an equivalent amount in foreign currency;
5) when executing and accepting money transfers in compliance with the provisions of Regulation (EC) No 1781/2006 of the European Parliament and of the Council of 15 November 2006 on information on the payer accompanying transfers of funds;
6) when there are doubts about the veracity or authenticity of the previously obtained identification data of the customer and beneficial owner;
7) in any other case, when there is a suspicion that the act of money laundering and/or terrorist financing is, was or will be carried out.
2. Where in the course of carrying out of a monetary operation the final amount of the monetary operation is not known, financial institutions and other entities must establish the customer’s identify immediately after establishing that the value of monetary operations amounts to EUR 15 000 or more, or an equivalent amount in foreign currency. In the case of several monetary operations which are linked, the customer’s identify must be established immediately after establishing that several monetary operations are interlinked.
3. Insurance undertakings engaged in life insurance activities and insurance brokerage firms engaged in insurance mediation activities relating to life insurance must establish the identity of the customer and the insured person where the annual premium payable by the customer is in excess of EUR 1 000 or the single premium is in excess of EUR 2 500 or an equivalent amount in foreign currency. The undertakings referred to in this paragraph may establish the identity of the beneficiary specified in the insurance contract after the business relationship has been established. In all cases, the beneficiary's identity must be established at the time of payout or when the beneficiary intends to exercise the rights to payments vested under the policy.
4. Gaming companies must verify the identity of the customer entering a casino and register him, also register him when he exchanges cash into chips or chips into cash.
5. Financial institutions and other entities must take all relevant, targeted and proportionate measures to establish whether the customer acts on his own behalf or is controlled and to establish the beneficial owner.
6. Financial institutions and other entities must, at the time of establishing the identity of the customer and beneficial owner, require them to provide documents and other data on the basis of which the financial institutions and other entities would understand the management structure and nature of activities of the customer which is a legal person.
7. In all cases when the identity of the customer and the beneficial owner is established, financial institutions and other entities must obtain from the customer information on the purpose and intended nature of the customer’s business relationships.
8. In all cases when the identity of the customer and the beneficial owner is established, financial institutions and other entities must verify the customer’s and beneficial owner’s identity on the basis of documents, data or information obtained from a reliable and independent source.
9. Financial institutions and other entities must in all cases perform ongoing monitoring of the customer’s business relationships, including scrutiny of transactions undertaken throughout the course of such relationships, to ensure that the transactions being conducted are consistent with the financial institutions’ or other entities’ knowledge of the customer, its business and risk profile as well as the source of funds.
10. With a view to ensuring that the documents, data or information submitted by the customer and the beneficial owner at the time of establishing their identity are appropriate and relevant, they must be regularly reviewed and kept up-to-date by financial institutions and other entities.
11. Financial institutions and other entities shall be prohibited from carrying out transactions through bank accounts, establishing business relationships and carrying out transactions when they have no possibilities to fulfil the requirements established in this Article: where, in the cases established by this Law, the customer fails to submit the data confirming his identity, where he submits not all the data or where the data are incorrect, where the customer or his representative avoids submitting the information required for establishing his identity, conceals the identity of the beneficial owner or avoids submitting the information required for establishing the identity of the beneficial owner or the submitted data are insufficient for that purpose; also where the institution cannot ensure that the requirements specified in paragraphs 5-9 of this Article are properly met. Upon assessment of the threat of money laundering and/or terrorist financing, a notice of such cases must be immediately given to the Financial Crime Investigation Service.
12. Paragraph 11 of this Article shall not apply to advocates and advocates’ assistants in the course of ascertaining the legal position for their client or defending or representing the client in, or concerning judicial proceedings, including advice on instituting or avoiding proceedings.
13. Points 1, 2 and 6 of paragraph 1, paragraphs 5 and 7-10 of this Article shall not apply when the customer of a financial institution or another entity is another financial institution.
14. The procedure for performing customer and beneficial owner due diligence and establishing several monetary operations which are linked shall be laid down by the Government.
15. Financial institutions and other entities shall not be liable to the customer for the non-fulfilment of contractual obligations and for the damage caused by non-execution of the customer’s monetary operations or transactions where the financial institutions and other entities have failed to execute the customer’s monetary operations or transactions due to the reasons specified in paragraph 11 of this Article.
Article 10. Simplified customer due diligence
1. Simplified customer due diligence shall be performed on:
1) companies whose securities are admitted to trading on a regulated market in one or more European Union Member States and other foreign companies whose securities are traded on regulated markets and which are subject to disclosure requirements consistent with the European Union legislation;
2) beneficial owners of pooled accounts held by notaries and other legal professionals from the European Union Member States or from third countries, provided that they are subject to anti-money laundering and/or anti-terrorist financing requirements consistent with international standards and they are supervised by competent authorities for compliance with those requirements and provided that the information on the identity of the beneficial owner is available, on request, to the financial institutions which have such pooled accounts;
3) life insurance contracts where the annual premium is no more than EUR 1 000 or the single premium is no more than EUR 2 500 or an equivalent amount in foreign currency;
4) insurance policies for pension schemes if there is no surrender clause and the policy cannot be used as collateral;
5) a pension, superannuation or similar schemes that provide retirement benefits to employees, where contributions are made by way of deduction from wages and the scheme rules do not permit the assignment of a member’s interest under the scheme;
6) electronic money, where, if the device cannot be recharged, the maximum amount stored in the device is no more than EUR 250, or an equivalent amount in foreign currency or where, if the device can be recharged, a limit of EUR 2 500, or an equivalent amount in foreign currency, is imposed on the total amount transacted in a calendar year, except when an amount of EUR 1 000, or an equivalent amount in foreign currency, or more is redeemed in that same calendar year by the bearer;
7) any customer, if the customer is a financial institution covered by this Law, or a financial institution registered in another European Union Member State or in a third country which imposes requirements equivalent to those laid down in this Law and is supervised by competent authorities for compliance with those requirements;
8) the customer representing a low risk of money laundering and/or terrorist financing.
2. It shall be prohibited to perform simplified customer due diligence if a separate decision of the European Commission has been adopted on the issue.
3. The simplified customer due diligence procedure and the criteria based on which the customer is considered to represent a low risk of money laundering and/or terrorist financing shall be established by the Government.
Article 11. Enhanced customer due diligence
1. Enhanced customer due diligence shall be performed:
1) where transactions or business relationships are carried out through a representative or the customer is not physically present for identification purposes;
2) where cross-border correspondent banking relationships with third country credit institutions are carried out;
3) where transactions or business relationships are carried out with politically exposed natural persons whose domicile is in another European Union Member State or a third country, or where a financial institution or another entity, upon assessment of the threat posed by the customer and establishing that the customer represents a high risk of money laundering and/or terrorist financing, decide to perform enhanced customer due diligence also on other politically exposed natural persons;
4) where there is a high risk of money laundering and/or terrorist financing.
2. When performing enhanced customer due diligence, where transactions or business relationships are carried out through a representative or the customer is not physically present for identification purposes, or where there is a high risk of money laundering and/or terrorist financing, financial institutions and other entities must apply one or several additional measures:
1) use additional data, documents or information to establish the customer’s identity;
2) take supplementary measures to verify or certify the submitted documents, or requiring confirmatory certification by the financial institution;
3) ensure that the first payment is carried out through an account opened in the customer’s name with the credit institution.
3. When performing enhanced customer due diligence, where cross-border correspondent banking relationships with third country credit institutions are carried out, credit institutions must:
1) gather sufficient information about the credit institution receiving funds to fully understand the nature of its business and to determine from publicly available information the reputation of the institution and the quality of supervision;
2) assess anti-money laundering and/or anti-terrorist financing controls of the credit institution receiving funds;
3) obtain approval from an authorised senior manager before establishing new correspondent banking relationships;
4) document the respective responsibilities of each credit institution;
5) be satisfied that the credit institution receiving funds has verified the identity of and performed ongoing due diligence on the customers having direct access to accounts of the correspondent, and that such institution is, upon request, able to provide relevant customer due diligence data to the correspondent institution.
4. When performing enhanced customer due diligence, where transactions or business relationships are carried out with politically exposed natural persons whose domicile is in another European Union Member State or a third country, or where a financial institution or another entity, upon assessment of the threat posed by the customer and establishing that the customer represents a high risk of money laundering and/or terrorist financing, decide to perform enhanced customer due diligence also on other politically exposed natural persons, financial institutions and other entities must:
1) obtain approval from an authorised senior manager for establishing business relationships with such customers or continuing business relationships with the customers when they become politically exposed natural persons;
2) take adequate measures to establish the source of property and source of funds that are involved in the business relationship or transaction;
3) perform enhanced ongoing monitoring of the business relationships with politically exposed natural persons.
5. Where a person has ceased to be entrusted with a prominent public function for a period of at least one year, financial institutions and other entities may, upon assessment of the risk of money laundering and/or terrorist financing, refrain from considering such a person to be a politically exposed natural person. Financial institutions and other entities must set internal procedures based whereon it shall be established whether the customer and the beneficial owner are politically exposed natural persons.
6. Credit institutions shall be prohibited from entering into and continuing a correspondent banking relationship or any other relationships with a shell bank or a bank that is known to permit its accounts to be used by a shell bank.
7. Financial institutions and other entities must pay special attention to any threat of money laundering and/or terrorist financing that may arise from any type of products, other results of human work, use of services rendered or transactions carried out where it is sought to conceal the identity of the customer or the beneficial owner (there is a tendency to favour anonymity), as well as from any business relationship or transactions with the customer whose identity has not been established with him physically present and, if needed, immediately take measures to prevent the use of the property for money laundering and/or terrorist financing purposes.
8. The enhanced customer due diligence procedure and the criteria based on which it is considered that there is a high risk of money laundering and/or terrorist financing shall be established by the Government.
Article 12. Opening of accounts or carrying out of other monetary operations through a representative
When the customer opens an account or carries out other operations specified in paragraphs 1-4 of Article 9 of this Law not in his own name, financial institutions and other entities must establish the real identity of the customer and that of the person on whose behalf this customer is acting.
Article 13. Third parties
1. When performing due diligence on the customer or the beneficial owner, financial institutions and other entities may make use of the information from third parties about the customer or the beneficial owner.
2. Financial institutions and other entities may establish the identity of the customer or the beneficial owner without his direct participation making use of the information about the customer or the beneficial owner from the financial institutions and other entities or their representations abroad, when they comply with the requirements set for third parties in Article 2(22) of this Law.
3. Where a financial institution or another entity registered in the Republic of Lithuania acts as a third party and meets the customer or beneficial owner due diligence requirements, it shall be permitted to request from the customer other data or other information required by another European Union Member State.
4. When requested, third parties must immediately submit to the requesting financial institution or another entity all of the requested information and data which are obligatory when complying with the requirements laid down in this Law.
5. Third parties must immediately submit to the requesting financial institution or another entity copies of the documents relating to the customer or beneficial owner due diligence and other documents relating to the customer or the beneficial owner.
6. It shall be prohibited to make use of the information held by third parties from a third country about the customer or the beneficial owner if a separate decision of the European Commission has been adopted thereon.
7. This Article shall not apply to outsourcing services, intermediation and representation relationships where, under the contract, the provider of outsourcing services, the intermediary or the representative is to be considered as a part of the financial institution or another entity (legal person).
8. Responsibility for compliance with the customer or beneficial owner due diligence requirements laid down in this Law shall rest with the financial institutions or other entities which have made use of the third country’s information about the customer or the beneficial owner.
Article 14. Notice of suspicious monetary operations or transactions
1. Financial institutions and other entities must report the suspicious monetary operations or transactions carried out by the customer to the Financial Crime Investigation Service. Such operations and transactions shall be objectively established for financial institutions and other entities, taking into account such customers’ activities which they regard as likely, by their nature, to be related to money laundering and/or terrorist financing, when performing customer and beneficial owner due diligence and ongoing monitoring of the customer’s business relationships, including scrutiny of transactions undertaken throughout the course of such relationships, as specified in Article 9 of this Law, and having regard to the criteria for identifying suspicious monetary operations or transactions approved by the Financial Crime Investigation Service.
2. Upon establishing that the customer is carrying out a suspicious monetary operation or transaction, financial institutions and other entities must suspend the operation or transaction disregarding the amount of the monetary operation or transaction (except for the cases where this is objectively impossible due to the nature of the monetary operation or transaction, the manner of execution thereof or other circumstances) and, not later than within three working hours, report this operation or transaction to the Financial Crime Investigation Service, and advocates or advocates’ assistants – to the Lithuanian Bar Association.
3. The Financial Crime Investigation Service shall, within ten working days from the receipt of the information specified in paragraph 2 of this Article or from the giving of instruction specified in paragraph 5 of this Article, immediately perform the actions necessary to substantiate or negate doubts concerning the criminal activity allegedly being carried out or previously carried out by the customer.
4. From the moment that the legality of funds or property is justified or doubts concerning possible links with terrorist financing are negated, the Financial Crime Investigation Service must immediately give a written notice to a financial institution or another entity that monetary operations or transactions may be resumed.
5. Financial institutions and other entities, except for notaries or persons entitled to perform notarial actions, advocates or advocates’ assistants, judicial officers or persons entitled to perform the actions of judicial officers, upon receipt from the Financial Crime Investigation Service of a written instruction to suspend the suspicious monetary operations or transactions carried out by the customer must, from the time specified therein or from the moment of emergence of specific circumstances, suspend the operations or transactions for up to ten working days.
6. Where financial institutions and other entities are not obligated to to temporarily restrict the ownership rights in accordance with the procedure established by the Code of Criminal Procedure within ten working days from the submission of the notice or receipt of the instruction, the monetary operation or transaction must be resumed.
7. Where the suspension of a monetary operation or transaction may interfere with the investigation of legalisation of money or property derived from criminal activity, terrorist financing and other criminal acts relating to money laundering and/or terrorist financing, the Financial Crime Investigation Service must notify thereof a financial institution and another entity.
8. Upon receipt of the information that the customer intends or will attempt to carry out a suspicious monetary operation or transaction, financial institutions and other entities must forthwith notify thereof the Financial Crime Investigation Service, and advocates or advocates’ assistants – the Lithuanian Bar Association.
9. Repealed as of 1 July 2011.
10. The Lithuanian Bar Association shall, not later than within three working hours from the receipt of the information specified in paragraphs 2 and 8 of this Article, communicate the information to the Financial Crime Investigation Service.
11. Paragraphs 2 and 8 of this Article shall not apply to advocates and advocates’ assistants in the course of ascertaining the legal position for their client or defending or representing the client in, or concerning judicial proceedings, including advice on instituting or avoiding proceedings.
12. Where the Financial Crime Investigation Service has information about possible links of suspicious monetary operations or transactions with terrorist financing, it shall submit such information to the State Security Department in accordance with the procedure established by the Government not later than within 24 hours from the receipt of this information.
13. Under the circumstances stipulated in paragraph 3 of this Article, financial institutions and other entities must submit the information requested by the Financial Crime Investigation Service within one working day from the receipt of the request.
14. Repealed as of 1 September 2014.
15. Financial institutions and other entities shall not be liable to the customer for the non-fulfilment of contractual obligations and for the damage caused in the course of performing the duties and actions specified in this Article. Criminal, civil or other legal liability shall also not apply to the heads or other employees of financial institutions and other entities who in good faith report suspicions of money laundering or terrorist financing or suspicious monetary operations or transactions carried out by the customer to the responsible employees at their workplace or to the Financial Crime Investigation Service.
16. Repealed as of 1 September 2014.
17. The procedure for suspending suspicious monetary operations or transaction specified in this Article and for reporting information about the suspicious monetary operations or transactions to the Financial Crime Investigation Service shall be established by the Government.
Article 141 Complex or unusually large transactions and unusual patterns of transactions
Financial institutions and other entities must pay attention to any activity which they regard as likely, by its nature, to be related to money laundering and/or terrorist financing, and in particular complex or unusually large transactions and all unusual patterns of transactions which have no apparent economic or visible lawful purpose, and business relationships or monetary operations with customers from third countries in which, based on the information officially published by international intergovernmental organisations, money laundering and/or terrorist financing prevention measures are insufficient or do not correspond to international standards. The financial institutions and other entities must examine the basis for and purpose of the execution of such operations or transactions and the results of the investigation must be recorded in writing. The records of the results of the investigation specified in this Article shall be stored for five years in paper or electronic form.
Article 15. Termination of transactions or business relationship with the customer
If the customer avoids or refuses to submit to a financial institution or another entity, at its request and within the specified time limits, information about the origin of funds or property, other additional data, the financial institutions and other entities may terminate the transactions or business relationship with the customer.
Article 16. Storage of information
1. Financial institutions must keep a register of the monetary operations carried out by the customer as specified in points 2-5 of Article 9(1) of this Law and of suspicious monetary operations and transactions, except in the cases where the customer of the financial institution is another financial institution or a financial institution of another European Union Member State.
2. Notaries and persons entitled to perform notarial actions, as well as judicial officers or persons entitled to perform the actions of judicial officers must keep a register of the customer’s suspicious transactions and transactions under which the amount of cash received or paid is EUR 15 000 or more or an equivalent amount in foreign currency.
3. Postal service providers must keep a register of monetary operations carried out by the customer as specified in Article 9(1)(4) of this Law and of suspicious monetary operations and transactions.
4. Other entities, except for notaries or persons entitled to perform notarial actions, advocates or advocates’ assistants, judicial officers or persons entitled to perform the actions of judicial officers and postal service providers, must keep a register of monetary operations as specified in Article 17(3) of this Law and of suspicious monetary operations and transactions.
5. Gaming companies must keep a register of the persons specified in Article 9(4) of this Law.
6. The Lithuanian Bar Association must keep a register of the suspicious transactions of their customers reported by advocates or advocates’ assistants.
7. Financial institutions and other entities must keep a register of the customers with whom transactions or business relationships have been terminated under the circumstances specified in Article 15 of this Law or under other circumstances related to violations of the procedure for the prevention of money laundering and/or terrorist financing.
8. Register data shall be stored for ten years from the date of termination of transactions or business relationships with the customer. The rules for the keeping of registers shall be established by the Government.
9. Copies of the documents confirming the customer’s identity and account and/or agreement documentation (originals of the documents) must be stored for ten years from the date of termination of transactions or business relationships with the customer. Business correspondence with the customer must be stored in paper or electronic form for five years from the date of termination of transactions or business relationships with the customer. Time limit for the storage may be additionally extended upon a reason instruction of a competent institution.
10. The documents confirming a monetary operation or transaction or other legally binding documents related to the execution of monetary operations or conclusion of transactions must be stored for ten years from the date of execution of the monetary operation or conclusion of the transaction.
Article 17. Submission of information to the Financial Crime Investigation Service
1. Financial institutions carrying out a monetary operation must submit data confirming the customer’s identity and information about the monetary operation carried out to the Financial Crime Investigation Service where the total amount of the customer’s single operation in cash or of several interlinked operations in cash is EUR 15 000 or more or an equivalent amount in foreign currency. The information submitted to the Financial Crime Investigation Service shall include the data confirming the customer’s identity, and where the monetary operation is carried out through a representative – also the data confirming the identity of the representative, the amount of the monetary operation, the currency in which the monetary operation was executed, the date of execution of the monetary operation, the manner of execution of the monetary operation and the entity for whose benefit the monetary operation was executed.
2. Notaries or persons entitled to perform notarial actions and judicial officers or persons entitled to perform the actions of judicial officers must submit to to the Financial Crime Investigation Service the data confirming the customer’s identity and information about the transaction concluded by the customer where the amount of cash received or paid under the transaction is EUR 15 000 or more or an equivalent amount in foreign currency.
3. Other entities, except for notaries or persons entitled to perform notarial actions, advocates or advocates’ assistants and judicial officers or persons entitled to perform the actions of judicial officers, shall submit to the Financial Crime Investigation Service the data confirming the customer’s identity and information about a single payment in cash where the amount of cash received is EUR 15 000 or more or an equivalent amount in foreign currency.
4. The information specified in paragraphs 1-3 of this Article shall be submitted to the Financial Crime Investigation Service immediately, not later than within seven working days from the date of execution of a monetary operation or conclusion of a transaction.
5. The information specified in paragraph 1 of this Article shall not be submitted to the Financial Crime Investigation Service where the customer of a financial institution is another financial institution or a financial institution of another European Union Member State.
6. A financial institution may refrain from submitting the information specified in paragraph 1 of this Article to the Financial Crime Investigation Service where the customer’s activity is characterised by large ongoing and regular monetary operations conforming to the criteria established by the Government.
7. The exemption referred to in paragraph 6 of this Article shall not apply where the customer of a financial institution is an undertaking of a foreign state, a branch or representative office thereof or is engaged in the following activities:
1) provides legal advice, is a practising advocate or is engaged in the activities of a notary;
2) organises and runs lotteries and gaming;
3) carries out activities involving ferrous, non-ferrous or precious/rare metals, precious stones, jewellery, works of art;
4) is a car dealer;
5) is a real estate dealer;
6) is engaged in audit activities;
7) provides individual health care;
8) organises and holds auctions;
9) organises tourism or travels;
10) is a wholesaler in spirits and other alcohol products and tobacco goods;
11) is a dealer in oil products;
12) is engaged in pharmaceutical activities.
8. The procedure for submitting the data and information referred to in paragraphs 1, 2 and 3 of this Article to the Financial Crime Investigation Service shall be established by the Government.
Article 18. Declaration of cash and activities of customs offices
1. The sums of cash shall be declared in the following cases:
1) when a person brings into the European Union through the Republic of Lithuania from third countries or brings from the European Union through the Republic of Lithuania to third countries within the meaning of the Law of the Republic of Lithuania on Customs (hereinafter in this Article: ‘third countries’) a single amount of cash of a value not less than the value indicated in Article 3(1) of Regulation (EC) No 1889/2005 of the European Parliament and of the Council of 26 October 2005 on controls of cash entering or leaving the Community (hereinafter: ‘Regulation (EC) No 1889/2005’);
2) at the request of the Customs Department, when a person brings to other European Union Member States from the Republic of Lithuania and brings from other European Union Member States to the Republic of Lithuania or carries to other European Union Member States and from other European Union Member States a single amount of cash exceeding EUR 10 000 or an equivalent amount in foreign currency.
2. Customs offices shall carry out:
1) controls of the sums of cash brought into the European Union through the Republic of Lithuania from third countries and brought from the European Union through the Republic of Lithuania to third countries in compliance with the provisions of Regulation (EC) No 1889/2005;
2) controls of the sums of cash brought to other European Union Member States from the Republic of Lithuania and brought from other European Union Member States to the Republic of Lithuania or carried to other European Union Member States and from other European Union Member States through the Republic of Lithuania in a single amount exceeding EUR 10 000 or an equivalent amount in foreign currency.
3. In the cases established by Regulation (EC) No 1889/2005, when the European Union Member States are granted the right of decision making, decisions shall be adopted and the procedure for applying the appropriate provisions of Regulation (EC) No 1889/2005 in the Republic of Lithuania shall be established by the Government or an institution authorised by it, except when this Law or other laws establish otherwise.
4. The procedure for declaring and carrying out controls of the origin of cash brought to other European Union Member States from the Republic of Lithuania and brought from other European Union Member States to the Republic of Lithuania or carried to other European Union Member States and from other European Union Member States through the Republic of Lithuania shall be established by the Customs Department under the Ministry of Finance of the Republic of Lithuania.
5. Customs offices must immediately, but not later than within seven working days, notify the Financial Crime Investigation Service:
1) if a person brings to the European Union through the Republic of Lithuania from third countries or brings from the European Union through the Republic of Lithuania to third countries a single amount of cash of a value not less than the value specified in Article 3(1) of Regulation (EC) No 1889/2005;
2) if a person brings to other European Union Member States from the Republic of Lithuania and brings from other European Union Member States to the Republic of Lithuania or carries to other European Union Member States and from other European Union Member States through the Republic of Lithuania a single amount of cash exceeding EUR 10 000 or an equivalent amount in foreign currency.
6. For the purposes of this Article, the term 'cash' shall correspond to the term used in Article 2 of Regulation (EC) No 1889/2005 and the term ‘European Union Member State’ shall not include the states of the European Economic Area.
Article 19. Duties of financial institutions and other entities
1. Financial institutions and other entities, except for advocates and advocates’ assistants, must establish appropriate internal control procedures related to the customer and beneficial owner due diligence, submission of reports and information to the Financial Crime Investigation Service, storage of information specified in this Law, risk assessment, risk management (taking into account the type of the customer, business relationship, product, service or transaction, geographical risk, etc.), compliance management and communication, which would prevent monetary operations and transactions related to money laundering and/or terrorist financing, and ensure proper preparation of the employees of the financial institutions and other entities and their familiarisation with money laundering and/or terrorist financing prevention measures specified in this Law and other legal acts. The internal control procedures specified in this paragraph must be line with the instructions approved by the institutions specified in paragraphs 1-8 of Article 4 of this Law.
2. Financial institutions and other entities, except for advocates or advocates’ assistants, must designate senior employees for organising the implementation of money laundering and/or terrorist financing prevention measures specified in this Law and for liaising with the Financial Crime Investigation Service. The Financial Crime Investigation Service must be notified in writing of the designation of such employees.
3. Financial institutions and other entities, except for advocates or advocates’ assistants, must take appropriate measures so that their relevant employees are aware of the provisions in force on the basis of this Law. Such measures shall include participation of the relevant employees in special ongoing training programmes to help them recognise operations which may be related to money laundering and/or terrorist financing and to instruct them as to how to proceed in such cases.
4. Financial institutions and other entities must apply the requirements laid down in this Law in their branches and majority-owned subsidiaries located in third countries. Where the legislation of the third country does not permit application of such equivalent measures, the financial institutions and other entities shall immediately inform the Financial Crime Investigation Service thereof and, having agreed with it, take additional measures to effectively handle the risk of money laundering and/or terrorist financing.
5. Financial institutions and other entities must introduce internal systems that would enable them to respond rapidly to inquiries from the Financial Crime Investigation Service concerning the submission of the information specified in this Law and ensure the submission of this information within 14 working days (where, in certain cases, this Law establishes shorter time limits for submitting the information specified in this Law to the Financial Crime Investigation Service – such information must be submitted within shorter time limits).
6. Financial institutions shall be prohibited from issuing anonymous passbooks, opening anonymous accounts or accounts in manifestly fictitious names, also from opening accounts without requesting the customer to submit documents confirming his identity or where there is a substantiated suspicion that the data recorded in these documents are false or falsified.
Article 20. Protection of information submitted to the Financial Crime Investigation Service
1. The information specified in this Law and received by the Financial Crime Investigation Service may not be published or transferred to other state governance, control or law enforcement institutions and other persons, except in the cases established by this Law and other laws.
2. Persons who have violated the procedure for storing and using information specified in this Law shall be held liable in accordance with the procedure established by laws.
3. The institutions specified in paragraphs 1-8 of Article 4 of this Law, employees thereof, financial institutions and employees thereof, other entities and employees thereof shall be prohibited from notifying the customer or other persons that the information about the monetary operations carried out or transactions concluded by the customer, or the investigation conducted in respect thereof has been submitted to the Financial Crime Investigation Service. The prohibition set out in this paragraph shall not apply to advocates and advocates’ assistants when they seek to dissuade a client from engaging in illegal activity.
4. The prohibition set out in paragraph 3 of this Article shall not prevent:
1) disclosure between credit institutions, insurance undertakings engaged in life insurance activities and insurance brokerage firms engaged in insurance mediation activities relating to life insurance and investment companies with variable capital registered within the territory of the European Union Member States, also registered in the territory of third countries which are subject to requirements equivalent to those laid down in this Law, provided that these entities belong to the same group composed of the parent company, its subsidiaries and the undertakings where the parent company or its subsidiaries hold a share in capital as well as the undertakings which draw up a set of consolidated financial statements of a group of undertakings and a set of consolidated annual financial statements of a group of undertakings;
2) disclosure between auditors, undertakings providing accounting or tax advisory services, notaries and persons entitled to perform notarial actions as well as advocates and advocates’ assistants registered within the territory of the European Union Member States, also registered in the territory of third countries which impose requirements equivalent to those laid down in this Law, provided that the said entities carry out their professional activities as a single legal person or as several persons which share common ownership and management or as several persons which are subject to joint control;
3) disclosure between financial institutions, insurance undertakings engaged in life insurance activities and insurance brokerage firms engaged in insurance mediation activities relating to life insurance, auditors, undertakings providing accounting or tax advisory services, notaries and persons entitled to perform notarial actions as well as advocates and advocates’ assistants in cases related to the same customer and the same transaction involving two or more of the mentioned entities, provided that they are registered within the territory of the European Union Member States or the territory of a third country which imposes requirements equivalent to those laid down in this Law, and that they are from the same professional category and are subject to equivalent obligations as regards professional secrecy and personal data protection.
5. In the cases specified in paragraph 4 of this Article, the information exchanged shall be used exclusively for the purposes of the prevention of money laundering and/or terrorist financing.
6. The exemptions specified in paragraph 4 of this Article concerning the transfer of information shall not apply if a separate decision of the European Commission is adopted thereon in respect of financial institutions and other entities to which this Law applies, as well as financial institutions and other entities from the European Union Member States or a related third country.
7. In the cases referred to in paragraph 4 of this Article, where, during disclosure between entities registered in third countries, personal data are disclosed to these entities, the disclosure of personal data must conform to the requirements of the Law of the Republic of Lithuania on Legal Protection of Personal Data.
8. The disclosure between financial institutions and other entities, institutions and other persons from a third country shall be prohibited if a separate decision of the European Commission has been adopted thereon.
9. Submission of the information specified in this Law to Financial Crime Investigation Service shall not be considered as disclosure of an industrial, commercial or bank secret.
Article 21. Scope of data of the customer carrying out monetary operations and transactions, the representative thereof and the beneficial owner who is a natural person
1. The data of the customer carrying out monetary operations and transactions, representative thereof and the beneficial owner who is a natural person shall comprise:
1) the name;
2) the surname;
3) the personal number or any other unique sequence of symbols intended for the identification of a person;
4) other data established by the Government in the cases prescribed by this Law.
2. The data specified in paragraph 1 of this Article shall be submitted and processed in the cases referred to in this Law:
1) in the course of notification of or provision of information to the Financial Crime Investigation Service;
2) in the course of identification of the customer and the beneficial owner by financial institutions and other entities;
3) in the course of obtaining of information from third countries by financial institutions and other entities in the cases set in Article 13 of this Law;
4) in the course of processing of information by financial institutions and other entities in the cases set in Article 16 of this Law.
CHAPTER FOUR
FINAL PROVISIONS
Article 22. Monetary unit
The amounts specified in this Law in euro shall be expressed in foreign currency in accordance with the euro foreign exchange reference rates published by the European Central Bank, and in the cases where the European Central Bank does not publish the euro foreign exchange reference rates – in accordance with the euro foreign exchange reference rates published by the Bank of Lithuania.
Article 23. Provision of information to other European Union Member States, European supervisory authorities and the European Commission
1. The Government or an institution authorised by it shall inform the European Commission about the application of this Law in respect of the entities specified in points 3 and 9 of Article 2(10) of this Law.
2. The Government or an institution authorised by it shall inform other European Union Member States, the European Commission and, acting in compliance with the relevant provisions of Regulation (EU) No 1093/2010, Regulation (EU) No 1094/2010 and Regulation (EU) No 1095/2010, European supervisory authorities of the cases when:
1) a third country complies with the requirements set forth in Article 2(22)(2) of this Law;
2) a third country complies with the requirements set forth in points 1, 2, 7 and 8 of Article 10(1) of this Law;
3) the legal acts of a third country do not permit the application of the requirements set forth in Article 19(4) of this Law;
4) a third country complies with the requirements set forth in Article 20(4) of this Law.
Article 24. Appealing against the actions of officers of the Financial Crime Investigation Service
The actions of officers of the Financial Crime Investigation Service may be appealed against in accordance with the procedure established by laws.
Article 25. Procedure of compensation for damage
The damage caused by unlawful actions of the officers of the Financial Crime Investigation Service performing their official duties shall be compensated for in accordance with the procedure established by laws.
Article 26. Liability
Officers and persons who have violated the requirements of this Law shall be held liable in accordance with the procedure established by laws.
I promulgate this Law passed by the Seimas of the Republic of Lithuania.
PRESIDENT OF THE REPUBLIC ALGIRDAS BRAZAUSKAS
Annex to
Republic of Lithuania
Law on the Prevention of Money Laundering and Terrorist Financing
LEGAL ACTS OF THE EUROPEAN UNION IMPLEMENTED BY THIS LAW
1. Regulation (EC) No 1889/2005 of the European Parliament and of the Council of 26 October 2005 on controls of cash entering or leaving the Community (OJ 2005, L 309, p. 9).
2. Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (OJ 2005, L 309, p. 15), as last amended by Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 (OJ 2010, L 331, p. 120).
3. Commission Directive 2006/70/EC of 1 August 2006 laying down implementing measures for Directive 2005/60/EC of the European Parliament and of the Council as regards the definition of ‘politically exposed person’ and the technical criteria for simplified customer due diligence procedures and for exemption on grounds of a financial activity conducted on an occasional or very limited basis (OJ 2006, L 214, p. 29).
4. Regulation (EC) No 1781/2006 of the European Parliament and of the Council of 15 November 2006 on information on the payer accompanying transfers of funds (OJ 2006, L 345, p. 1).
5. Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC (OJ 2007 L 319, p.1).
6. Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC (OJ 2009 L 267, p.7).