UAB Walletto
Vilnius, Lithuania
Following a targeted inspection, Lietuvos bankas sanctioned UAB Walletto with a €290,000 monetary penalty. The inspection identified deficiencies in AML/CFT internal controls, including weaknesses in customer due diligence (CDD) and inadequate transaction monitoring. Additionally, the regulator found client funds safeguarding deficiencies. Walletto is required to submit a remediation plan and evidence of corrective measures. The public disclosure of the sanction reflects the regulator's increased willingness to use reputational measures alongside financial penalties to enforce compliance among EMIs and PIs.
Verified from source: The page references an 'Administrative settlement with UAB Walletto' by Lietuvos bankas in its May 2026 RegRally Insights edition covering supervisory actions including AML/CFT controls and client funds safeguarding. The full details of the settlement are not visible in the truncated page content, but the action is listed in the navigation.
- Regulators are increasingly linking AML/CFT quality with safeguarding practices as core licensing and compliance expectations for EMIs and PIs
- Public disclosure of sanctions adds reputational risk as a supervisory tool, increasing pressure on fintech-adjacent payment institutions
- BaaS partners and fintech clients of EMIs/PIs should monitor their counterparties' regulatory standing more closely