A Fine of 13,000 (thirteen thousand) Gel was imposed on INDIVIDUAL ENTERPRENEUR „ GOCHA BOLKVADZE”.

Financial Penalty of 3,000 (Three thousand) Lari was imposed on Currency Exchange operator for failure to execute requirements of the Article 29 paragraph 2 of the Law of Georgia “on Facilitating the Suppression of Money Laundering and Terrorism Financing”, which according to the Article 3, paragraph 3, point “i” of the Rule Approved by the Decree N17/04 (amended after 2021, 6 April) of the President of the National Bank of Georgia on February 5, 2020 “On Determining, imposing and enforcing of the fines to the Currency Exchange bureau and its administrators” envisages a Fine of 3,000 (Three thousand) Lari.

In particular, in 1 (one) case, the Currency Exchange Operator had not recorded information about the client and the operation (transaction) through a special software (electronic) system, which under the Article 3, Paragraph 2, sub-paragraph “k” of the Rule Approved by the Decree №17/04 (a version after amendment made on April 6, 2021) of the President of the National Bank of Georgia on February 5, 2020 “On Determining, Imposing and Enforcing of the Fines to the Currency Exchange Operators and its Administrators” envisages a fine of 7,000 (Seven Thousand) GEL, for each fact of violation. Total – 7,000 (Seven Thousand) GEL.

During the inspection, A penalty of 3 000 (three thousand) was imposed on the Currency Operator for non-submission of the Initial registration Form envisaged under the Decree N1 of the Head of the Financial Monitoring Service of Georgia on 18 June, 2012 “On the Approval of Rules on Record –Keeping, Storage and Reporting of the Information on the Transaction by Obligated Entities to the Financial Monitoring Service of Georgia”, which under the Article 3, Paragraph 2, sub-paragraph ‘a’ of the Rules Approved by the Decree N17/04 (a version after the amendment made on April 5,2021) of the President of the National Bank of Georgia on February 6, 2020  “On Determining, imposing and enforcing of the fines to the Currency Exchange bureau and its administrators” envisages a fine of GEL 3,000 ( three thousand) lari.