The latest Council of Europe’s anti-money laundering body (MONEYVAL) report underlines that Lithuania’s results “both in terms of money laundering convictions and confiscation of proceeds of crime remain modest, especially when considering the high incidence of proceeds-generating crime in the country.”
The report notes the introduction of provisions which complement the existing system on confiscation and temporary measures. The mechanism for the freezing of terrorist assets is largely in place, although further awareness-raising and stronger monitoring of the implementation of United Nations Security Council Resolutions are required.
The financial intelligence unit’s institutional and operational autonomy as well as financial and technical resources need to be addressed in order for this institution to fully play its role. Law enforcement authorities have made progress in investigating money laundering and terrorist financing but their approach to financial investigations does not appear to be sufficiently proactive.
Link to the Executive summary: click here
Link to the full report: click here