During the “Nuvei” inspection, violations related to the management of conflicts of interest, enhanced customer identification, monitoring of the customer’s business relations and operations (transactions) and the implementation of internal control procedures for the protection of customer funds were found.
UAB “Nuvei” applied to the Bank of Lithuania for the possibility of concluding an administrative agreement. The institution informed that it has already eliminated all the violations found during the inspection and committed to 2026. September 7 submit the audit conclusion of the corrective actions in the field of prevention of money laundering and terrorist financing specified in the deficiency elimination plan.
After evaluating the received information, the Bank of Lithuania decided to enter into an administrative agreement. For a violation related to improper management of conflicts of interest, a warning was issued to the institution, for violations related to enhanced customer identification, monitoring of the client’s business relations and operations (transactions), UAB “Nuvei” received 90 thousand. EUR enforcement measure, and for the violation of internal control procedures in the area of customer funds protection – a public announcement.
At that time, the bank that carried out a targeted inspection of TeslaPay found that the electronic money institution did not ensure proper monitoring of the client’s business relations and transactions.
The administrative settlement was reportedly entered into at the company’s initiative, following TeslaPay’s notification of its own initiative remediation plan, most of which has already been implemented. The company undertook to implement the rest of the measures by October, and to submit an audit conclusion by December.
TeslaPay earned $1.5 million last year. EUR income – 50 percent. more than in 2023 (1 million euros) and 20 thousand EUR profit, when in 2023 it suffered 17 thousand. EUR loss, according to data from the Register Center. Last year’s report has not yet been submitted by the company.
The beneficiary of the company is Estonian Heiki Murula, who owns 64 percent. company shares.
