The monetary fine of 20,000 GEL was imposed on payment service provider BKN301 Georgia (405545227)

For 3 (three) case for misrepresentation of information/documentation to the National Bank of Georgia in the process of inspection;

For 3 (three) cases for misrepresentation of Reports on the Supervision of Money Laundering and Terrorism Financing Risks;

In relation to 1 (one) client, risk assessment was not carried out taking into account the relevant risk factors defined by the provider's internal policies/procedures

For 1 (one) case for failure to comply with the requirements regarding reporting suspicious transaction to the Financial Monitoring Service of Georgia.