Bank of Lithuania
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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?

A financial market participant should assess each situation individually and request such documents that would be useful in a particular situation and would prove legality of the origin of the customer’s funds and assets.

A financial market participant may demand from its customer documents justifying the source of funds, for example, a sale-purchase agreement, audited annual financial reports, invoices, etc.

In order to assess the origin of the source of the customer’s assets, financial market participants may, for example, require to provide a will by which a business was inherited, a transaction confirming monetary gifts, etc.

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