Loan Issuing Entity submitted the initial registration form to the Financial Monitoring Service late. The Loan Issuing Entity was registered at National Bank of Georgia on June 25, 2019. Under the rule of the Head of the Financial Monitoring Service of Georgia amended on June 5, 2020 “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”, under the Article, Paragraph 2, Loan Issuing Entity which had started its activities before the implementation of this rule, should have submitted form to the Financial Monitoring Service of Georgia within 1 month after the implementation of this rule. Loan Issuing Entity LTD “FIN” (Identification number 401953702) submitted the initial registration form to the Financial Monitoring Service on 21 January, 2021. In accordance with article 2¹, paragraph 2, sub-paragraph "A" of the "Rules for Determining, Imposing and Enforcing the Amount of Monetary Fines for Loan Issuing Entities" approved by Order No. 218/04 of the President of the National Bank of Georgia dated September 27, 2018, it envisages fine of - 5,000 (five thousand) GEL.

Financial Penalty of 4 000 (four thousand) Lari was imposed on Loan Issuing Entity for 2 (two) cases of failure to submit correct information to the Inspection group of the National Bank of Georgia during inspection, which In accordance with article 2¹, paragraph 3, sub-paragraph "N" of the "Rules for Determining, Imposing and Enforcing the Amount of Monetary Fines for Loan Issuing Entities" approved by Order No. 218/04 of the President of the National Bank of Georgia dated September 27, 2018, it envisages fine of - 2,000 Gel for each case, In total- 4,000 lari (four thousand) GEL.

The software (electronic) system implemented in the organization operates with significant faults. In particular, it does not have the ability to detect suspicious, unusual, related (disjointed) transactions, which According to Article 2¹, paragraph 2, subparagraph “e” of the “Rules for Determining, Imposing and Enforcing the Amount of a Monetary Fine for a Lending entity” approved by the Order No. 218/04 of the President of the National Bank of Georgia of September 27, 2018 envisages fine of - 15,000 Gel (fifteen thousand) GEL.

Four case of failure to determine the essence of the client's activity by the Loan Issuing Entity, which In accordance with article 2¹, paragraph 3, sub-paragraph "t" of the "Rules for Determining, Imposing and Enforcing the Amount of Monetary Fines for Loan Issuing Entities" approved by Order No. 218/04 of the President of the National Bank of Georgia dated September 27, 2018, it envisages fine of - 2,000 Gel for each case, In total- 8,000 lari (eight thousand) GEL.

Loan Issuing Entity has not developed policies/procedures related to internal control, which According to Article 2¹, paragraph 3, subparagraph “i” of the “Rules for Determining, Imposing and Enforcing the Amount of a Monetary Fine for a Lending entity” approved by the Order No. 218/04 of the President of the National Bank of Georgia of September 27, 2018 envisages fine of - 5,000 Gel (five thousand) GEL.

One case of failure to provide accurate information (Money Laundering and Terrorist Financing Risk Supervision Report) to the National Bank of Georgia by the Loan Issuing Entity, which In accordance with article 2¹, paragraph 4, sub-paragraph "g" of the "Rules for Determining, Imposing and Enforcing the Amount of Monetary Fines for Loan Issuing Entities" approved by Order No. 218/04 of the President of the National Bank of Georgia dated September 27, 2018, it envisages fine of - 1,000 Gel for each case, In total- 1,000 lari (one thousand) GEL.

In total Loan Issuing Entity LTD “FIN” (Identification number 401953702) was fined with 38,000 (thirty eight Thousand) lari.