aA
The United Kingdom's fintech startup Revolut has moved the operation launch date of its specialized bank in Lithuania from the first to the second half of this year, Antonia Green, a spokesperson for the company, told BNS Lithuania.
Nikolajus Storonskis
Nikolajus Storonskis
© DELFI / Andrius Ufartas

Responding to the recent statement by Antoni Mikulski, head of the Lithuania's Financial Crime Investigation Service, when he said that Revolut's activity in Lithuania might cause problems for the country, she said Revolut is further looking for ways to strengthen its security systems.

"Revolut operates in highly regulated markets around the world and is continuously looking at ways to further strengthen our already robust security systems and processes. We remain committed to the establishment of our operations in Lithuania," Green said.

Vilius Peckaitis, head of the FCIS's money laundering prevention board, believes there's a huge risk that persons from regions where terrorist organizations operate might get access to Lithuania's financial system via the United Kingdom where it's easy to get a driver's license.

Representatives of the central Bank of Lithuania said earlier Revolut was issued a license upon the assessment of financial risks as well as challenges to national security and political and geopolitical risks.

The Seimas of Lithuania earlier tasked a government commission assessing transactions of strategic companies to once again check Revolut's reliability, and the probe was due to start on Thursday. Deputy Government Chancellor Alminas Maciulis says the assessments will take around a month.

"Revolut has nothing to hide and we have always approached our application and our dealings with the Lithuanian regulatory authorities with complete transparency and will continue to do so," Green told BNS Lithuania.

It’s already a third assessment of Revolut. The first two concluded that Revolut poses no threat to national security.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Researchers are developing new material for planes and cars that will show damage invisible to a human eye

KTU researchers together with colleagues from Latvia, Denmark, Sweden, Slovakia, Ukraine, Czechia,...

Minister: Rail Baltica's joint management model poses threat to its continuity (1)

The joint management model of the European standard-gauge railway project Rail Baltica is already...

Šapoka: new taxes wouldn't be painful (3)

As Lithuania's public debt is growing due to the coronavirus crisis , the country might need to...

Central bank: we are working with Denmark on Danske Bank

As new information on the transfer of money of dubious origin via Danske Bank 's divisions in the...

Thermo Fisher Scientific: no coronavirus vaccine production in Vilnius

Biotechnology company Thermo Fisher Scientific says its Vilnius branch is not producing coronavirus...

Top news

Šapoka: new taxes wouldn't be painful (3)

As Lithuania's public debt is growing due to the coronavirus crisis , the country might need to...

President and PM tested for coronavirus (1)

Lithuanian President Gitanas Nauseda and Prime Minister Saulius Skvernelis have tested negative for...

Righteous Among the Nations honored in Kaunas for saving Jews

Lithuanian families who hid Jews during the Nazi occupation were honored as Righteous Among the...

Conquering hill forts in Kaunas and around

The ancient artefacts are popular sightseeing spots as they usually reveal stunning panoramas. So, put...

Lara Seligman | D+ nariams

In West Africa, U.S. military struggles for scarce resources as terrorism threat grows

Tensions with Iran almost scuttled a major international training exercise in the Sahel.

|Maža didelių žinių kaina