Board of the Bank of Lithuania imposes a fine of €0.7 million on company, €0.5 million – on its manager

The Board of the Bank of Lithuania has imposed a fine of €0.7 million on the electronic money institution UAB Pervesk and a fine of €0.5 million on its director, Vytautas Karalevičius, because the company was improperly assessing the risk level of its customers thus breaching the legal requirements stipulated in the Law on the…

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