On Imposing a Financial Sanction on the CURRENCY EXCHANGE BUREAU – Individual Entrepreneur "ALEKSANDER KHACHIDZE" (P/N 59001024108)

    On Imposing a Financial Sanction on the CURRENCY EXCHANGE BUREAU – Individual Entrepreneur "ALEKSANDER KHACHIDZE" (P/N 59001024108)

    1. 1 (one) case of non-fulfillment of the obligations provided by the Article 27 of the Law of Georgia “On Facilitating the Prevention of Money Laundering and the Financing of Terrorism”, by the Article 11 of the Rule Approved by the Order of the Head of the Financial Monitoring Service of Georgia №1 of June 5, 2020, “For Accounting, Storage and Submission of Information on the Transaction by the Accountable Person to the Financial Monitoring Service of Georgia”, by the Article 16 of the Rule Approved by the Order of the Head of the Financial Monitoring Service of Georgia №2 of June 5, 2020, “For Identification and Verification of the Client by the Accountable Person”, by the Article 7, Paragraph 4 and 6 of the Rule “For Registration and Regulation of Currency Exchange Bureaus”. 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 “j” of the Rule Approved by the Decree №17/04 (a version after amendment made on April 5, 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.

     

    Currency Exchange Operator – Individual Entrepreneur “Aleksander Khachidze” (P/N 59001024108) was fined with total amount of 7 000 (Seven Thousand) GEL.