Bank of Lithuania

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Illegal financial services


The list of entities without the right to provide financial (including investment) services in Lithuania

The list of entities without the right to provide financial (including investment) services in Lithuania


Public disclosure of significant net short positions

Public disclosure of significant net short positions


Fraud alert: scam emails allegedly sent by the Bank of Lithuania

The Bank of Lithuania has recently received inquiries from foreign citizens regarding fraudulent emails allegedly sent on behalf of the Bank of Lithuania or its employees, confirming received payments and asking to provide deposit declarations and pay taxes (on income or pensions). Please note that this is a scam and the Bank of Lithuania does not send any letters of such kind.

It is important to point out that the Bank of Lithuania:

  • does not open any accounts or provide any payment services to natural persons;
  • does not act as an intermediary for investment service providers;
  • does not ask or require to declare any taxes or pensions;
  • does not transfer or administer any income or pension taxes.

In case you have received an email with similar content, please ignore the requirements set out therein because otherwise you will lose your money. Contact your country’s law enforcement institutions (police or financial crime investigations services) as soon as possible, indicating all the circumstances and information on the persons you received such requests from.

Below are some examples of fraud attempts:

Example1 (1.7 MB ) Example2 (1.8 MB ) Example3 (1.7 MB )

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Let us remind that investment services may permanently and professionally be provided only by:

  1. financial brokerage firms holding a licence of a financial brokerage firm issued by the Bank of Lithuania or the supervisory authority of another European Union (EU) or European Economic Area (EEE) country;   
  2. credit institutions licensed in Lithuania or another EU or EEE country, where they have the right to grant investment services under their credit institution licence;
  3. financial advisor companies holding a licence of a financial advisor company issued by the supervisory authority.

The list of companies having the right to provide investment services in our country is available on the Bank of Lithuania website. Where the company is not on this list, the Bank of Lithuania insists on not making use of its services.

Three rules of prudence for retail investors

The Bank of Lithuania warns to beware of companies operating in the market for investment instruments on illegal grounds or of their representatives, in multiple ways seeking to misappropriate the funds of investors.

The first rule – do not to invest in products you are not knowledgeable about. By neglecting this advice, you not only risk losing your savings, but also going into debt. 

The second rule – check out if the institution offering investment services holds the appropriate licence. You can do this on the Bank of Lithuania website lb.lt under Licensing. Remember – company name must fully coincide with that indicated on the Bank of Lithuania website.

The third rule – avoid proposals promising ‘easy money’ and ‘no risk’. Investors often lose their funds lured by ‘very attractive investment proposals’ (‘a large variety of flexible products’, ‘minimum risks and guaranteed profits’, ‘small initial fees and the possibility to trade using a high leverage’, ‘we offer bonuses to start trading’, ‘very flexible and exclusive trading conditions’, ‘low or not applicable service fees’, ‘attribution of a personal consultant (broker)’, etc.) from ‘brokers’ on the phone, and entrusting their funds to fraudsters.

Last update: 20-04-2020