Skaistė: EU’s choice of Vilnius as home for AML body would show trust in the region

A Vilnius-based Anti-Money Laundering Authority (AMLA) would send a strong geopolitical signal that Europe trusts the security of this region in spite of the war taking place nearby, the finance minister says.

The European Union (EU) has been developing plans to set up a dedicated anti-money laundering body at EU level since July 2021, with the hope that it will be operational from 2024.

The Lithuanian Government applied to tender for its establishment in September 2021.

“This [the establishment of the AMLA in Vilnius – ELTA] would be a strong geopolitical signal in the current context, when a lot of things are happening around Lithuania, in our region. Perhaps the confidence of some investors has also been undermined by geopolitical tensions,” Gintarė Skaistė told the conference ‘AMLA – laukiame tavęs Vilniuje’ (AMLA, We are Waiting for You in Vilnius) on Monday.

Vilnius is the best location to set up AMLA and mobilise professionals from other countries due to well-developed financial technology and anti-money laundering and anti-terrorist financing sectors, according to the minister.