A monetary fine was imposed on the commercial bank JSC “TBC Bank” (ID No. 204854595) in the amount of GEL 250,000 (two hundred and fifty thousand). Specifically, the fine was imposed due to the following violations:

1. With respect to 4 (four) clients, failure to submit reports on suspicious transactions to the Financial Monitoring Service of Georgia within the prescribed time limits in relation to the transactions carried out, in violation of Article 25(1) and Article 26(2) of the Law of Georgia “On Facilitating the Prevention of Money Laundering and Terrorism Financing”;
2. For failure to comply within the set deadlines, with 3 (three) written requirements issued as a result of an on-site inspection;
3. With respect to 1 (one) client, failure to submit a report on suspicious transactions to the Financial Monitoring Service of Georgia in relation to the transactions carried out, in violation of Article 25(1) of the Law of Georgia “On Facilitating the Prevention of Money Laundering and Terrorism Financing”;
4. With respect to 1 (one) client, failure to update the client’s KYC documentation;
5. With respect to 23 (twenty-three) clients, failure to apply risk-appropriate preventive measures;
6. For 3 (three) cases, incorrect submission of information/documentation requested during the inspection process;
7. For 20 (twenty) cases, violation of the requirement established under Article 9(2) of the “Rules on Recording, Storing, and Submitting Transaction-Related Information to the Financial Monitoring Service of Georgia by Accountable Persons,” approved by Order No. 1 of the Head of the Financial Monitoring Service of Georgia dated 5 June 2020 (delay of up to 5 working days);
8. For 46 (forty-six) cases, violation of the requirement established under Article 9(2) of the same Rules approved by Order No. 1 of the Head of the Financial Monitoring Service of Georgia dated 5 June 2020 (delay of 5 or more working days);
9. For 1 (one) case, submission of incorrect information by the Bank to the National Bank of Georgia through the report on supervision of money laundering and terrorism financing risks (reporting for the first half of 2024), as defined by Order No. N313/04 of the President of the National Bank of Georgia dated 10 November 2023, approving the “Rule on Completion and Submission of Information of the Supervision Report on the Risks of Money Laundering and Terrorism Financing of Commercial Banks.”