Administrative Agreement Concluded with the Bank of Lithuania

UAB Urbo Bankas („Bank“), company code 112027077, address: Konstitucijos pr.18B, Vilnius.The Bank of Lithuania (BL) conducted a targeted scheduled inspection to assess the Bank's compliance with anti-money laundering and counter-terrorist financing (AML/CTF) prevention requirements. The inspection revealed violations and deficiencies.The Bank acknowledged the identified violations, submitted a remediation plan, and committed to addressing all legal violations and operational shortcomings...

Vilnius, 29/04/2025 (informazione.news - comunicati stampa - economia)

UAB Urbo Bankas („Bank“), company code 112027077, address: Konstitucijos pr.18B, Vilnius.

The Bank of Lithuania (BL) conducted a targeted scheduled inspection to assess the Bank's compliance with anti-money laundering and counter-terrorist financing (AML/CTF) prevention requirements. The inspection revealed violations and deficiencies.

The Bank acknowledged the identified violations, submitted a remediation plan, and committed to addressing all legal violations and operational shortcomings identified during the inspection. The Bank also informs that a significant portion of the deficiencies identified by BL have already been remedied, and actions to strengthen AML/CTF prevention procedures are ongoing.

In view of this, the BL accepted the Bank's proposal to enter into an administrative agreement and imposed the following measures:

It is emphasized that the Bank has not identified any cases where the deficiencies noted by BL had an impact on its clients or where the Bank was used for AML/CTF purposes.

More information: Mr. Igor Kovalčuk, Member of the Board, Director of Legal and Compliance Service, Deputy Head of Administration. Phone: + 370 686 34122, email: igor.kovalcuk@urbo.lt