Feb 25 • 16:43 UTC 🇱🇹 Lithuania Lrytas

ELTA Briefly: Amendments to the LRT Law Will Be Presented As Soon As Possible, Fighting Fraud with LB Proposing to Tighten Payment Operations

Lithuania's parliament aims to expedite the presentation of amendments to the LRT law while the central bank proposes tighter regulations on payment operations to combat financial fraud.

On Wednesday, Lithuania's parliamentary speaker, Juozas Olekas, announced that the working group has completed the draft amendments to the laws governing the Lithuanian National Radio and Television (LRT), with plans to present the amendments as soon as possible at the upcoming spring session. This initiative aims to enhance the operational framework of the public media institution and is seen as a priority for the parliament. Unlike last year, these amendments will not be expedited through special procedures this time, indicating a more measured approach to legislative reform.

Simultaneously, the Vice Chairman of the Freedom Party, Vytautas Mitalas, declared his candidacy for the leadership position of his political party. This announcement adds another layer of political dynamics to the current legislative agenda, where not only media oversight is being addressed but also internal party leadership is at play. As the political landscape evolves, the outcomes of both the LRT amendments and party leadership elections will have significant implications for governance in Lithuania.

In addition, the Bank of Lithuania (LB) is proposing stricter regulations for confirming payment operations to combat financial fraud effectively. They seek to empower banks with the authority to reverse transactions if funds are found to have been acquired illegally. This move is part of a broader strategy to strengthen financial security and consumer protection in Lithuania, reflecting an increasing concern about fraudulent activities in the banking sector. Collectively, these legislative efforts underscore Lithuania's commitment to improving institutional accountability and financial integrity.

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