All results 30
| Relevance | Date | Question |
|---|---|---|
| 24-02-2021 | A Company provides only payment initiation services (hereinafter – PIS). When does it have the obligation to identify the customer (PIS user) and the beneficiary, and when can the exemption provided for by the AML/CFT law on simplified customer identification be applied? | |
| 17-02-2021 | How should financial institutions verify a customer’s citizenship when using their driving licence for identification purposes? Is a driving licence issued in the United Kingdom, which is no longer part of the European Economic Area (EEA), a valid document for a customer’s identification? | |
| 15-11-2020 | Who should be considered the beneficial owner of various legal persons (e.g. in cases of unions or associations of multi-family apartment house owners or in case of a legal person undergoing bankruptcy procedures)? | |
| 01-04-2020 | How can a financial market participant authenticate a customer in the physical presence of the customer if, at the beginning of the business relationship, the customer’s identity was established and verified upon receipt of their passport or identity card? | |
| 28-06-2019 | How should a market participant identify a beneficiary, if a legal person’s ownership structure includes company the securities of which are traded on a regulated market in the Member States of the European Union or other foreign countries and which is subject to disclosure requirements compliant with European Union legislation? | |
| 28-06-2019 | How should a market participant identify a beneficiary, if the legal person’s ownership structure includes companies registered outside of the Republic of Lithuania? | |
| 28-06-2019 | How to identify a beneficiary? | |
| 28-06-2019 | Is a customer whose relative is a politically exposed person should be treated as one as well? | |
| 22-02-2019 | Is a financial institution required to check for the payee and/or the payee’s bank in the lists of applicable international sanctions at the time when a non-cash transfer operation is being performed within the SEPA area? | |
| 22-02-2019 | Is a financial institution required to conduct verification of the payee and/or the payee’s bank regarding higher-risk factors (e.g. if the beneficiary is a PEP, the beneficiary is considered to be of poor reputation, a pre-trial investigation regarding financial crime has been initiated against the beneficiary) at the time when the financial institution’s customer (payer): - performs a non-cash transfer operation to the payee within the SEPA area; - performs a non-cash transfer operation to the payee outside the SEPA area; - performs a low-value non-cash transfer operation to the payee within/outside the SEPA area; - performs a high-value non-cash transfer operation to the payee within/outside the SEPA area; | |
| 22-02-2019 | If all transactions (monetary operations) by a financial institution’s customers are executed through an account held with a credit institution, is it required to register customer operations amounting to or exceeding €15,000 in a separate register? Is it enough to store account statements with all customer transactions and mandatory data of monetary operations on a regular basis? | |
| 22-02-2019 | What are the criteria for choosing the right tools for identifying and verifying the source of the customer’s funds and assets? Could you give examples of suitable information sources or documents? | |
| 22-02-2019 | Is it not necessary to require customers to provide their representative’s identity document and documents confirming registration of the legal entity, as well as data on the beneficiary and the management structure, when applying simplified customer (legal entity) due diligence? | |
| 22-02-2019 | Which reliable sources are recommended for verifying information provided by the customer regarding politically exposed persons (hereinafter ‘PEP’)? | |
| 22-02-2019 | Is it obligatory to check against public, reliable and independent sources for negative information that can impact the customer’s, its representative’s and beneficiary’s reputation (e.g. if a pre-trial investigation into the customer’s financial crimes is initiated, etc.) during customer identification and verification? | |
| 22-02-2019 | Must paper and/or electronic versions of the results of customer screening performed by persons responsible (e.g. search on the Internet or in relevant databases, etc.), customer risk assessment and other information related with meeting the requirements of the Law be stored? | |
| 22-02-2019 | What criteria should be used for selecting reliable and independent sources for the verification of information on customers and beneficial owners? Can you list examples of such sources? | |
| 22-02-2019 | When identifying the beneficiary, is it necessary to receive an identity document copy from the beneficiary (natural person)? Is it sufficient to request from the customer only obligatory data as regards the beneficiary? | |
| 22-02-2019 | When identifying the customer (legal person) in its (its representative’s) physical presence, is it necessary to acquire the paper versions of the documents identifying the legal person or proving its representative’s authorisation, or is it sufficient to receive them by email or in other electronic form from the customer’s representative? | |
| 22-02-2019 | Do paper versions of documents (e.g. copies of passports, shareholder registers and company’s articles of association, etc.) collected during customer identification have to be stored? Is it sufficient to store only electronic versions of the documents in the customer’s file, according to internal control procedures determined by the financial institution? | |
| 22-02-2019 | Can financial institutions wanting to install new technological solution to manage money laundering and terrorist financing (ML/TF) risks request the Bank of Lithuania (LB) to judge its acceptability and compliance with the requirements of the Law on the Prevention of Money Laundering and Terrorist Financing (hereinafter ‘the Law’) (in customer identification and verification, monitoring of financial operations and other stages)? If yes, can you briefly outline the procedure? If no, can you tell what other ways there are for the supervised entities to assess the applied technological solution’s compliance of with the Law and LB recommendations? | |
| 26-07-2018 | Upon expiry of the identity document obtained in the beginning of the business relationship and in physical presence of the customer, can financial market participant update the identification data of the customer and the customer’s identity document data relying on data available in reliable sources, e.g. the Population Register? | |
| 26-07-2018 | When performing Ongoing Due Diligence regarding the purpose and intended nature of the customer’s business relationships (e.g. cash operations, international transfers, etc.), can financial market participant as a primary source use customer’s transaction history? | |
| 26-07-2018 | While performing Ongoing Due Diligence on customer and beneficial owner, can financial market participant use data available in reliable external sources as the primary source? For example, data on the type of activity, management structure, manager (managers), beneficial owner, etc. | |
| 26-07-2018 | What is the difference between the simplified customer due diligence case laid down in Article 9(4) of the Law on Money Laundering and Terrorist Financing (hereinafter – Law) and the case in Article 15(1)(7) of the Law? |