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According to a Monday report from iGamingBusiness.com, the Gambling Supervision Service regulator revealed that the revised regulations have been designed to bring the local online gaming and lottery industries into line with the country’s Prevention of Money Laundering and Terrorist Financing Law. Marie, St....

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According to a Monday report from iGamingBusiness.Distinct divisions:Finally, it was reported that the fresh Lithuanian directives furthermore mandate that all foreign iGaming and lottery customers be categorized according to a number of criteria including the nature, size and extent of their monetary transactions.Reportedly reads a section of Lithuania’s new know-your-customer guidelines…“The company should try to get as much information as possible from the client....

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The source detailed that the guidelines moreover outline what factors such sectors should be considering when assessing business relationships and monetary transactions so as to help stamp out the threats posed by money laundering. However, such information should be collected prudently and efforts should be made to verify the information provided by the client. Such punters will therefore purportedly be required to hand over reliable independent data or documents like public registers so as to verify the source of the funds they are using to enjoy gambling entertainment....

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