During the inspection, 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.

Financial Penalty of 3000 (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.

Failure to comply with the requirements of the Article 27 paragraph 6 of the Law of Georgia “on Facilitating the Suppression of Money Laundering and Terrorism Financing”. The software system implemented in the currency exchange office for the purpose of promoting prevention of money laundering and financing of terrorism is operating with significant faults. In particular, it fails to detect suspicious/unusual/split transactions and the verification of persons in the sanctioned and politically active lists. which according to the Article 3, paragraph 2, point “e” of the Rule Approved by the Decree N17/04 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 10 000 (Ten thousand) Lari.

During the inspection was revealed 4 (four) cases of person services without verification. which according to the Article 3, paragraph 3, point “b” of the Rule Approved by the Decree N17/04 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 1 000 (thousand) Lari for each case, total 4 000 (four thousand) lari.

In Total Currency Exchange Operator - Individual Enterpreneur „IOSEB DOLABERIDZE” (I.N. 01017022784) was fined with 24 000 (twenty four Thousand) GEL.