What is the Know Your Customer Principle?

In accordance with the requirements of Lithuanian and international regulatory enactments, the Bank fulfils the requirements of the Know Your Customer principle. Citadele needs to know who its customers are and for what purposes they plan to use or use the bank's products and services. The Know Your Customer principle is aimed at preventing potential risks of money laundering, terrorism and proliferation financing.

The Know Your Customer principle in Lithuania is mainly regulated by the following regulatory enactments: Republic of Lithuania Law on the Prevention of Money Laundering and Terrorist Financing;

The full list of Lithuanian regulatory enactments on the prevention of money laundering, terrorism and proliferation financing can be found here.