Bank of Lithuania published a second Dear CEO letter to FinTech companies

The Bank of Lithuania published a second Dear CEO letter to the managers of electronic money and payment institutions operating in Lithuania, presenting a view of the Bank of Lithuania what shall be taken into account in provision of licensed services, management of risk, safeguarding of clients’ funds, as well as to other related questions.

The Dear CEO letter covers issues relevant to electronic money and payment institutions, such as the implementation of business plans, the provision of licensed services, changes in business models, the safeguard of clients’ funds, internal audit and internal control, management of risks (including money laundering and terrorist financing, IT and cyber security), as well as issues related to the provision of information.

More: https://www.lb.lt/lt/naujienos/lukesciu-laiske-patarimai-fintech-istaigoms-riziku-valdymo-ir-licencijuojamos-veiklos-klausimais