Technical Support Instrument (TSI) Project on: “Strengthening Risk-Based AML/CFT Supervision in Lithuania”

Within the framework of the 2022 Council of Europe/EU Technical Support Instrument (TSI) envelope, the Economic Crime and Cooperation Division is assisting Lithuanian authorities to enhance the anti-money laundering/combatting the financing of terrorism (AML/CFT) regime through strengthening the Financial Crime Investigation Service’s (FCIS) risk-based supervision and its consequent supervisory approach to the sectors within its remit. The project begun on 29 June 2022 and will last for 27 months. Through tailored activities, the project seeks to contribute to:

Improved understanding of the AML/CFT risks regarding sectors supervised by the FCIS; and

Strengthened AML/CFT risk-based supervision performed by the FCIS.

Areas of specific focus include development of ML/TF sectoral risk assessment methodology for higher-risk sectors and a manual on AML/CFT Risk-Based Supervision, review of the existing framework and tools for exchanging information between the FCIS with other AML/CFT and prudential supervisors, guidance to authorities in conducting Sectoral Risk Assessments of Virtual Assets and Virtual Asset Service Providers, and development of training materials and capacity development on the risk-based supervision for the AML/CFT Supervisory Unit of the FCIS.

The total project budget is 644,445 Euros. The project is co-funded by the European Union via the Technical Support Instrument and Council of Europe and is and implemented by the Council of Europe (Economic Crime and Cooperation Division), in cooperation with the European Commission.

 More information on the cooperation between the EC DG REFORM and the Council of Europe can be found here.

Unit for EU Member States & Neighbourhood

Programme Manager
Mr Tomislav SERTIC
Phone: +33 (0)3 90 21 46 16
Email: Tomislav.SERTIC [at] coe.int

Programme Manager
Ms Sabina SINJEREAN
Phone: +33 (0)3 88 41 24 93
Email: Sabina.SINJEREAN [at] coe.int