2002-09-26
1. The Board approved the regulations on the management of the register of cash operations and transactions performed by a client.
The regulations define the management of the register of monetary operations carried out by the client involving a sum in excess of LTL 50 000 or equivalent in foreign currency and suspicious operations. The regulations were approved taking into account the amendments to the Law of the Republic of Lithuania on the Prevention of Money Laundering.
2. The Board approved the criteria for establishing suspicious monetary operations.
On the established criteria, a monetary operation shall be considered suspicious if the operations of a client of a credit or financial institution do not correspond to the registered activity of the company or the usual co-operation with a credit and financial institution; if two or more natural persons deposit cash into the same account, indicating an unusual reason for such a deposit, and the funds are later transferred to the accounts of natural or legal persons (their own or others) with Lithuanian or foreign credit institutions; if a natural persons receives from a foreign credit or financial institution a sum in excess of LTL 50 000 or equivalent in foreign currency at the current official exchange rate, and withdraws cash frequently; a client’s cash settlements show an uncharacteristic increase; if a client divides a monetary operation into several operations for some unclear reason so that none of the operations is in excess of LTL 50 000 or equivalent in foreign currency at the current official exchange rate; other criteria.