Lithuania aims for excellence in AML

A new anti-money laundering centre housed in the Baltic state’s central bank is growing and hiring fast. It aims to turn Lithuania into an AML hub – and to address and reverse the region’s questionable reputation.

You 2.0: digital identity, banking and the future

For Lithuania, the journey from laggard to leader in anti-money laundering (AML) began in July 2019. At the time, a toxic pall lay over the Baltic banking sector. That banks in Latvia and Estonia were conduits for dirty money had been an open secret for decades.

A few months earlier, Thomas Borgen, chief executive of Danske Bank, quit in the wake of a €200 billion money laundering scandal linked to the Danish lender’s Estonian operations.