The central bank of Lithuania has imposed a €90,000 fine on 'Mano bankas' following a targeted unplanned inspection that uncovered significant violations related to the management of information and communication technology, security risks, and operational risks. The inspection specifically highlighted the shortcomings in how the bank was handling these critical areas of risk management, prompting a need for corrective action.

In addition to the financial penalty, the central bank has mandated the publication of the violations, which serves to inform the public and the banking sector about the bank's inadequate management of resources dedicated to monitoring and addressing technology and security risks. This public disclosure is part of the regulatory measures aimed at ensuring accountability and transparency within the financial sector.

'PMano bankas' has reached out to the central bank to explore the possibility of establishing an administrative agreement, which may include further commitments to improve their operational processes. This situation underscores the central bank's vigilance in enforcing regulations and ensuring financial institutions uphold high standards of risk management.