Sezzle Lithuania, UAB is a financial institution regulated by the Bank of Lithuania. Lithuanian
legal acts require financial institutions to implement the “Know Your Customer” principle in
relation to their new and existing customers by imposing the following obligations:
- Know what activities the client is engaged in (what is the nature of his business),
analyze his activities;
- Know who the beneficiaries of the client are, ie the natural persons in whose interests
or for whose benefit the transactions or activities are carried out (the beneficiary of the
legal person is determined up to the natural person (s), regardless of the number of
controlling legal persons);
- To carry out continuous monitoring of the client's business relations.
Sezzle Lithuania, UAB must also ensure that the money laundering and terrorist financing risk
assessment is based on up-to-date and accurate information, and must therefore regularly
review and update the documents, data and information provided during the identification of the
customer and the beneficiary.