meta_id 3274889

On June 25, 2026, the Lithuanian Bank's Financial Markets Supervision Committee concluded an administrative agreement with TransferGo Lithuania, an e-money institution, following a targeted compliance inspection. The Lithuanian Bank conducted a planned inspection of TransferGo Lithuania to assess its compliance with client funds protection requirements and related internal control standards. The inspection identified certain violations and deficiencies in the institution's operations. TransferGo Lithuania subsequently requested the opportunity to enter into an administrative agreement with the Lithuanian Bank, confirming it had remedied all identified breaches and implemented the bank's recommendations. The institution committed to submitting an independent audit report confirming these corrections by August 5, 2026. The Lithuanian Bank determined that an administrative agreement was appropriate. It imposed enforcement measures comprising a public announcement regarding deficiencies in implementing client funds protection requirements and counterparty credit risk assessment obligations. Additionally, the Lithuanian Bank imposed a EUR 42,000 enforcement measure for the institution's failure to consistently use payment accounts compliant with legal requirements when executing payment operations. In separate decisions, the Lithuanian Bank approved two personnel appointments. It authorised Agne Duksiene to serve as a member of the board of European Merchant Bank UAB, and Darius Burdaitis to serve as chief executive and board member of RATO Bank UAB. Both appointments were approved following the respective financial institutions' requests and the Lithuanian Bank's review of submitted information. REFERENCES: Lithuanian Bank Financial Markets Supervision Committee Decisions: https://www.lb.lt/en/financial-markets-supervision-committee-decisions