As a result of the inspection, a violation of the requirements provided for in Article 6, Paragraph One, Sub-Clause "A" of the "Rules for Accounting, Storage and Submission of Information on Transactions by an Accountable Person 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, In particular, there are 2 (two) cases of non-submission of reports above the limit for the Financial Monitoring Service of Georgia, which is a violation of the rule approved by the order of the President of the National Bank of Georgia No. 16/04 of February 5, 2020 "On the determination of the amount of monetary fines, imposition and enforcement" (hereinafter - "penalty rule"), which in accordance to Article 3, Paragraph 3, subparagraph "m" of the mentioned rule, considers the fine with 2,000 (two thousand) GEL for each violation fact. In sum, 4,000 (four thousand) GEL for the 2 (two) violation cases mentioned in this paragraph.

As a result of the inspection, a violation of the requirements stipulated in Article 9, Clause 2 of the "Rules for accounting, storage and submission of information on transactions by an accountable person to the Financial Monitoring Service of Georgia" approved by Order №1 of the Head of the Financial Monitoring Service of Georgia on June 5, 2020, In particular, for the Financial Monitoring Service of Georgia, 3 (three) cases of late submission of reports without meeting the established deadline (for a delay of up to five working days), which is provided for in accordance with the fine rule - Article 3, Clause 4, Sub-Clause "A", Sub-Clause "AA" to be fined - in the amount of 100 (one hundred) GEL for each violation. A total of 300 (three hundred) GEL for 3 (three) violation cases mentioned in this paragraph.

As a result of the inspection, a violation of the requirements stipulated in Article 9, Clause 2 of the "Rules for accounting, storage and submission of information on transactions by an accountable person to the Financial Monitoring Service of Georgia" approved by Order №1 of the Head of the Financial Monitoring Service of Georgia on June 5, 2020, In particular, for the Financial Monitoring Service of Georgia, 1 (one) case of late submission of reports without meeting the established deadline (five or more working days late), which is in accordance with Article 3, Clause 4, Sub-Clause "A", Sub-Clause "A.B" of the Penalty Rule provides for a fine of 300 (three hundred) GEL for each violation. A total of 300 (three hundred) GEL for the above-mentioned violation.

As a result of the inspection, a violation of the requirements stipulated in Article 18 of the Law of Georgia on „Facilitating the Suppression of Money Laundering and Terrorism Financing“ was revealed, In particular, in relation to the client, the microfinance organization does not carry out the study of the origin of the transaction and/or property (funds) in accordance with the legislation, which provides for a fine in the amount of 3,000 (three thousand) GEL for each violation on the fact. A total of 3,000 (three thousand) GEL for the above-mentioned violation.

As a result of the inspection, a violation of the requirements stipulated in Article 10 of the Law of Georgia on „Facilitating the Suppression of Money Laundering and Terrorism Financing“ and Violation of the requirements set forth in Articles 6 and 7 of the "Rule of Client Identification and Verification by an Accountable Person" approved by Order No. 2 of the Head of the Financial Monitoring Service of Georgia dated June 5, 2020, In particular, in relation to the client, the microfinance organization provides services to a person (including a person acting on behalf of the client) without identification and/or verification, which in accordance with Article 3, Clause 3, Sub-Clause "b" of the Penalty Rule provides for a fine - in the amount of 1,000 (thousand) GEL, for each violation. Total - 1,000 (thousand) GEL for the above-mentioned violation.

Microfinance Organization was fined with total amount of 8,600 (eight thousand six hundred) GEL.