Lithuania's Financial Crime Investigation Service to Be Reorganized

In December Financial Crime Investigation Service (FNTT) will be reorganized. By the order of the minister of the interior two boards will be established at the service. They will enhance its financial intelligence and security of the European Union's financial interests.

Minister of the Interior Dailis Alfonsas Barakauskas announced at the press conference on Thursday that the law will take effect on 2013 December 1 and preparatory work has already commenced.

According to the minister, instead of the FNTT Analysis and Prevention Board, two specialized boards will be established - one will deal with prevention and investigation of illegal support, while the other will be Money Laundering Prevention Board.

The boards will be responsible for prevention of money laundering and terrorism financing.

The minister of the interior estimates that the reorganization will strengthen intelligence and financial analysis activities, i.e...