Transactive Systems UAB loses licence, pays €280,000 in Lithania over AML/CFT failings

Transactive Systems UAB, a subsidiary of UK-based payments firm Transactive Systems Ltd, has been fined €280,000 (US$300,133) by the Bank of Lithuania, which has also withdrawn its licence over serious anti-money laundering and counter-terrorist financing (AML/CFT) breaches.

Transactive Systems UAB, a subsidiary of UK-based payments firm Transactive Systems Ltd, has been fined €280,000 (US$300,133) by the Bank of Lithuania, which has also withdrawn its licence over serious anti-money laundering and counter-terrorist financing (AML/CFT) breaches.