Published: 03/28/2024 14:35
Photo of Judita Grigelyts (V).
The Bank of Lithuania (LB) revoked the license of the payment institution Majestic Financial. This is necessary because it no longer has the right to provide financial services and must pay the bills to clients within two months, LB said.
According to him, the inspectors have constantly violated the Law on the Prevention of Money Laundering and Terrorist Financing, as well as in other areas of the agency’s activities.
suddenly did not ensure the distribution of functions and independence of appropriate employees and responsible persons in the field of money laundering and terrorist financing prevention of internal control, audit procedures in this area, improperly stored information, according to the report.
In addition, they did not suddenly identify suspected transactions, stop them, and report them to the Financial Crimes Investigation Service.
LB 2020 The company was fined EUR 9,000 for improperly storing customer parts.
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