On 3 November 2019, the Seimas of the Republic of Lithuania adopted the amendments to the Law on the Prevention of Money Laundering and Terrorist Financing.
These amendments will transpose the provisions of the 5th EU Anti-Money Laundering Directive into the national law. The Directive has been adopted for the purpose of taking further measures to ensure the increased transparency of financial transactions, of corporate and other legal entities, as well as of trusts with a view to improving the existing preventive framework and to more effectively countering terrorist financing.
Our team advises corporations, investment management and private equity firms, and financial institutions on money laundering risks in a variety of corporate transactions. Our lawyers conduct targeted and efficient due diligence to identify potential past illegal activity, including corruption, sanctions and export controls breaches, and tax evasion. We draft contract provisions to regulate associated risk and advise on and help implement remedial measures, both pre- as well as post-closing. And, when necessary, we advise on and apply to regulators for AML defenses of transactions to mitigate money laundering risks and liabilities.