Vice-Minister of Finance: “The technology race is changing the methods for combating financial crimes”
Artificial intelligence, digital assets and cross-border payments open up new opportunities for the financial sector, but at the same time provide criminals with tools to scale up fraud and steal identities. As a result, it is increasingly important for financial crime prevention professionals not only to respond to new threats, but also to be able to anticipate them. The effective fight against financial crime is a prerequisite for public security and confidence in the economy. This was highlighted by Vice-Minister of Finance Rūta Carik at the 2026 Annual Summit of the Global Coalition to Fight Financial Crime (GCFFC), currently taking place in Vilnius.
Over the course of two days, representatives from more than 100 international organizations, as well as the public and private sectors, will discuss how to combat financial crimes—a challenge arising as technology creates new opportunities not only for the financial sector but also for criminals.
"Effective measures to prevent money laundering and terrorist financing are not an obstacle to financial innovation; rather, they are a prerequisite for its sustainable development. However, to achieve tangible results, we must further strengthen cooperation—both between the public and private sectors and internationally—by sharing information and jointly seeking solutions that enable an effective response to the evolving nature and threats of financial crime," Vice-Minister R. Carik says.
According to the Vice-Minister, Lithuania is consistently strengthening its national system for the prevention of money laundering and terrorist financing, improving coordination among institutions, and contributing to the development of the European Union’s anti-money laundering framework.
“No single state or institution can effectively combat cross-border financial crimes on its own. Therefore, it is essential to strengthen international partnerships and trust, while simultaneously implementing sound measures that yield practical results,” the Vice-Minister emphasizes.
According to the Vice-Minister, adapting to new technological challenges is equally important. Artificial intelligence can help identify suspicious financial transactions more quickly; however, this also requires oversight by qualified specialists and robust data protection.
The Centre of Excellence in Anti-Money Laundering, which began operations in Vilnius in 2021, plays a significant role in strengthening efforts to prevent financial crimes. Established by the Ministry of Finance, the Bank of Lithuania, and commercial banks, the Centre helps enhance the expertise of professionals and implement practical solutions. Notably, the Centre is one of the organizers of this event, alongside "Go Vilnius" and ISM University.
Looking ahead, Lithuania is currently entering an important new phase: we are beginning preparations for the sixth round of mutual evaluations by MONEYVAL—a Council of Europe committee of experts that assesses how countries combat money laundering and terrorist financing—scheduled for 2027. This evaluation will serve as a significant opportunity to demonstrate not only our compliance with international standards but also the practical effectiveness of the measures we have implemented.
Last updated: 26-10-2026
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