Principle “Know Your Customer”

The laws of the Republic of Lithuania require all banks to comply with the principle “Know Your Customer” in their activities and regularly update knowledge about clients' activities, sources of income and financial operations.

This information is required for banks to comply with the requirements of anti-money laundering and counter  terrorist financing legislation (the Law on   anti-money laundering and counter  terrorist financing of the Republic of Lithuania). Money laundering is an act aimed at legitimizing money or other property obtained through criminal activity or concealing its origin.

Therefore, we kindly ask all of our customers who use banking services to fill in the  Questionnaire "Know Your Customer". This questionnaire is provided to all customers at the beginning of business relations with the bank, and then clients are requested to update their data on a regular basis. The customer must inform the Bank of any changes to the submitted information.

Implementing the "Know Your Customer" Principle helps prevent money laundering and protect clients against fraud.

The Bank ensures that the data provided by the client is protected as any other information constituting the secret of the bank. For more information on how and for which personal data we process, see the Bank's Personal Data Protection Rules.