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The rules must be followed not only by regulated entities The Payment Services Regulation (PSR) applies to services provided with the EU by PSPs. In addition, the PSR also applies to services provided within the EU by these entities: Technical services providers Operators of payments systems and payment schemes E-communication services providers Hosting services providers Providers of very large online platforms and of very large online search engines Original equipment manuf

SCA: two inherence elements may be allowed PSD3/PSR keeps the core SCA framework largely unchanged. SCA must still be based on two or more independent elements: knowledge, possession and inherence. The general rule remains: at least two elements should come from different categories. However, PSD3 introduces an exception: two elements from the inherence category may be used, provided this does not reduce the overall level of security. SCA: no major change in scope PSR keeps t

Real-time mandatory Verification of Payee (VoP) – central fraud prevention tool PSPs must provide real-time verification of the payee before the payer authorises a credit transfer. This verification is based on the payee’s name and unique identifier, such as an IBAN. If there is a discrepancy between the payee’s name and the unique identifier, the PSP must immediately alert the payer before the transfer is authorised. ❗Under the PSR proposal, VoP would also cover credit trans

Agreed final text of payments package (3rd Payment Services Directive (“PSD3”) and the Payment Service Regulations (“PSR”) was published on 23rd April 2026 and awaits final approval. Overview Regulatory frameworks on payment services and e-money will be blended into one single regulatory framework. PSD2 and EMD2 will be replaced by PSD3 and PSR, the very first payment services regulation. PSD3 will need to be transposed into national laws regulating payment services. SR will

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In recent years, an increasing number of companies and organizations, including financial institutions, have been implementing artificial intelligence (AI) solutions, particularly in the field of anti-money laundering and counter-terrorist financing (AML/CTF). RegTech (regulatory technology) solutions support financial institutions in complying with regulatory requirements, while rapid advances in AI create opportunities to implement these processes more efficiently and eff

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For many financial institutions, sanctions compliance processes rely heavily on list screening. If no potential match is triggered, the...

For financial institutions, transaction monitoring rules are essential – not only to meet regulatory requirements but to detect financial...

Financial market participants supervised by the Bank of Lithuania - whether seeking to obtain or expand a license, or undergoing changes...

Let’s be honest – most compliance teams have faced AML backlogs at some point. Periodic client reviews. Alerts piling up. Monitoring...

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The European Union, seeking to promote greater integration of environmental, social, and governance ( ESG ) factors in the financial...

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There’s a growing perception that annual reviews are becoming outdated in management. While I agree that regular, year-round performance...

The European Securities and Markets Authority (ESMA) presented its 2023 report , which examines rules and sanctions applied in various...

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Marketing experts working with companies in the financial sector face a challenge—advertising for financial products is strictly...

Lithuania, along with the EU, is taking significant steps towards regulating the crypto market with the new MiCA (Markets in...