| Abstract [eng] |
The master thesis analyses (i) AML/CFT in Lithuania, which is sought by financial institutions and other obliged entities (as defined in the legal acts regulating AML/CFT) and (ii) some significant difficulties related to this prevention that occur in practice. This paper evaluates some aspects of national regulation, its relationship with EU law, researches on topical issues of various Lithuanian and foreign institutions, ML/TF interaction in the context of AML/CFT. The paper analyses the need for AML/CFT regulation and assesses that, among other things, the prevention of ML/TF is necessary due to the serious damage and the encroachment on important legal goods, such as an efficient financial system. The differences and links between ML/TF, the process of these crimes, and the ways in which they occur, which also allow us to understand that it is appropriate to apply the same preventive mechanism to the prevention of different crimes, have been assessed. It has been established that the structure of Lithuanian institutions and the direction of regulatory change show that AML/CFT is receiving more and more attention, regulation is being tightened and efforts are being made to increase awareness of AML/CFT not only in the public but also in the private sector. Competence and a comprehensive understanding of this area are needed both to deal with current challenges and those that may arise in the future. However, recent challenges that are important to overcome are not exclusively related to technological developments. This master thesis discusses the desirability of paying attention to both the gaps in national regulation in the management of ML/TF risks and the need for greater unification of the EU - wide legal framework in certain aspects. The paper also suggests that full compliance with AML/CFT requirements is not possible simply because of the various ML/TF risk scenarios and the possibility of contingencies. |
