As of the date of commencement of the inspection as determined by the legal act of the National Bank of Georgia, has been revealed 11 (eleven) facts of failure to submit transaction reports (CTR) to the Financial Monitoring Service of Georgia 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, which, in accordance with Article 3, Paragraph 3, Subparagraph “l” 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 for each violation, in total 22,000 (twenty-two thousand) GEL.
The Currency Exchange Office LTD „Pagaa” (Identification Number: 402095987) has been fined with a total amount of 22,000 (twenty-two thousand) GEL.