28 Jan 2019
Lithuania has taken extra measures to prevent money-laundering after bank scandals in Latvia and Estonia which have harmed its reputation, its central bank Governor Vitas Vasiliauskas said.
The euro-zone member has so far avoided any major financial scandals of its own but felt it needed to improve its safeguards, Vasiliauskas, who is also a European Central Bank (ECB) Governing Council member, said.
“Foreigners tend to see the three Baltic states as a single market,” he added.
The central bank, which is trying to attract financial technology companies, issued several dozen electronic money licences last year to startups including Google’s payment arm and Revolut, a British digital-only bank.
– By Andrius Sytas, Reuters, 25 January 2019.
Link to Reuters.
Photo: Danske Bank offices in Lithuania.
You can claim CPD minutes for reading this article, by signing up to our CPD WalletFREE CPD Wallet