The online payment service provider, Paysera LT, has initiated a request to assess the constitutionality and adherence to the rule of law concerning current regulations. Justina Šidlauskienė, the company’s General Director, clarified that Paysera does not dispute the enforcement of existing court decisions. Instead, the company is seeking to resolve a fundamental legal ambiguity.
According to Šidlauskienė, neither the Money Laundering and Terrorist Financing Prevention Act nor the LB Act provides explicit guidelines detailing the methodology for calculating a final monetary fine. This legal challenge to the existing framework was prompted after the Supreme Administrative Court of Lithuania (SAC) definitively upheld a €370,000 fine previously imposed by the Bank of Lithuania (LB) in 2020. The core of Paysera’s argument centers on the lack of legislative clarity regarding penalty structures.
By appealing to the court, the company aims to establish a clear legal precedent for how such financial penalties should be determined in the future, rather than merely contesting the specific amount of the fine levied in this instance. The decision by the SAC to confirm the substantial fine has drawn attention to the underlying regulatory framework. Paysera’s action signals a broader industry concern about the specific legal mechanisms governing financial penalties.
The ongoing assessment by the courts will determine whether the current regulatory instruments are sufficient to mandate a clear and consistent calculation standard for such significant fines within the Lithuanian financial sector.
Topics: #paysera #fine #court
