Finextra: Revolut faces €3.5m by Lithuania’s Central Bank for AML failings highlighting new focus on strengthening transaction monitoring controls and compliance frameworks

The penalty marks the largest fine ever imposed on the financial technology company and serves as a reminder of the importance of robust AML frameworks, especially for companies operating across borders. This is particularly significant as Revolut had previously been fined €70,000 by Lithuanian regulators in 2022 for failing to submit financial statements on time…