4 (four) cases of failure Risk assignment/reassessment and failure to execute requirements of the Article 10 paragraph 4 of the Law of Georgia “on Facilitating the Suppression of Money Laundering and Terrorism Financing”, which, in accordance with Article 3, Paragraph 3, Subparagraph "t" of the Penalty Rules, envisages a fine in the amount of 2,000 (two thousand) GEL, for each case. Total 8,000 (eight 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.

2 (Two) cases failure to report accurate information to the National Bank of Georgia under the provisions of the “Rules on filing and submitting illicit income legalization and Terrorism Financing Risk Supervision Reports by Currency Exchange bureau” which according to the Article 3, Paragraph 4, sub-paragraph ‘d’ of the Rules “On Determining, imposing and enforcing of the fines to the Currency Exchange bureau and its administrators” envisages a fine of GEL 1 000 ( thousand) lari on each case. Total 2,000 (two thousand) GEL;

In Total Currency Exchange Operator - Individual Enterpreneur „MAGULI ASANIDZE” (I.N. 01006015498) was fined with 23 000 (twenty three thousand) GEL.