EU – Baltic States, Financial Services, Legislation, Lithuania, Markets and Companies

Two companies founded by Italian residents and declaring international metal trade came under the jurisdiction of the national legislation of Lithuania due to withdrawal of enormous sums of money from their accounts in Lithuanian banks as well as transfer of the money received from foreign countries to the accounts of the companies registered in other countries.

"Italians made a mistake expecting that the prevention of money laundering in Lithuania is weak and no one will notice that they are laundering dirty cash", said Kestutis Jucevicius, Director at the Financial Crime Investigation Service (FNTT).