A total of 26,100 (twenty-six thousand one hundred) GEL was fined to the Currency Exchange Office LTd „TOP RATES” (Identification Number: 439425711)

The currency exchange office did not submit the initial registration form to the Financial Monitoring Service within the established deadlines. Failure to submit the initial registration form provided for in Article 1, Paragraph 3 of Order No. 1 of the Head of the Financial Monitoring Service of Georgia dated June 5, 2020 “Rules for Recording, Storing and Submitting Information on Transactions by an Obliged Entity to the Financial Monitoring Service of Georgia”, which, in accordance with Article 3, Paragraph 2, Subparagraph “a” of the “Rules for Determining, Imposing and Enforcing the Amount of Monetary Fines against Currency Exchange Offices and their Administrators” approved by Order No. 17/04 of the President of the National Bank of Georgia dated February 5, 2020, it envisages a fine of 3,000 (three thousand) GEL;

As of the date of commencement of the inspection, has been revealed 57 (fifty-seven) facts of delayed submission (5 and more working days) of the transaction reports (CTR) defined by Article 6, Paragraph 4 of the “Rules for Recording, Storing and Submitting Information on Transactions by an Obliged Entity to the Financial Monitoring Service of Georgia” approved by Order № 1 of the Head of the Financial Monitoring Service of Georgia dated June 5, 2020, to the Financial Monitoring Service of Georgia, which, in accordance with Article 3, Paragraph 4, Subparagraph “a.b” of the “Rules for Determining, Imposing and Enforcing the Amount of Monetary Fines against Currency Exchange Offices and their Administrators” approved by Order No. 17/04 of the President of the National Bank of Georgia dated February 5, 2020, it envisages a fine of 300 (three hundred) GEL for each violation, in total 17,100 (seventeen thousand one hundred) GEL;

3 (three) case of failure to determine the essence of the client's activity, which, in accordance with Article 3, Paragraph 3, Subparagraph "t" of the “Rules for Determining, Imposing and Enforcing the Amount of Monetary Fines against Currency Exchange Offices and their Administrators” approved by Order No. 17/04 of the President of the National Bank of Georgia dated February 5, 2020, it envisages a fine of 2,000 (two thousand) GEL in relation to each client, in total 6,000 (six thousand) GEL.