Technology-enabled risk-based care solution (SupTech)
The Financial Crimes Investigation Service under the Ministry of the Interior of the Republic of Lithuania is looking for a solution to optimise the surveillance process by reducing and streamlining the use of human resources for processing large volumes of data, as well as to strengthen the protection of public finances and to modernise the process of analysis of surveillance data.
Context
- The Law on Prevention of Money Laundering and Terrorist Financing of the Republic of Lithuania empowers the FNTT to supervise the implementation of measures to prevent money laundering and/or terrorist financing by financial institutions and other obliged entities.
- In carrying out this function, the FNTT is faced with several key challenges: the large number of supervised entities, consisting of more than 360 financial institutions and about 6 400 other obliged entities; the supervision of groups of obliged entities, of which there is no finite number; and the manual supervision of data.
Solution
- There is a need to optimise the oversight process by reducing and rationalising the use of human resources for the processing of large volumes of data, as well as to strengthen the protection of public finances and to modernise the process of analysing the oversight data in a way that reduces the cost in terms of working time and allows human resources to be used for other tasks, while safeguarding the finances of the State from criminal and illicit influence.
Prizes for participants
Prizes will be awarded to the first, second and third place winners:
- 1st prize – 8 700 EUR
- 2nd prize – 6 000 EUR
- 3rd prize – 5 100 EUR
Additional information
The deadline for receipt of projects or applications for participation is 22.11.2021 at 10:00.
For a detailed description of the challenge and the call for projects, please visit the Central Public Procurement System (CVP IS).