THE MONETARY FINE WAS IMPOSED ON COMMERCIAL BANK JSC "BASIS BANK" (I.N. 203841833)

    The monetary fine of 32 800 (thirty-two thousand eight hundred) GEL was imposed on commercial bank JSC “BASIS BANK” (I.N. 203841833):

    1. For 2 (two) cases for misrepresentation of submitting information/documentation to the National Bank of Georgia in the process of inspection;
    2. For 1 (one) case for breach of requirements set by the subparagraph “e”, Paragraph 1, Article 18, law of Georgia „On Facilitating the Suppression of Money Laundering and Terrorism Financing” (reasonable measures has not been taken to determine the source of wealth and the source of funds towards 1 customer);
    3. For 2 (two) cases for failure (submitting incorrect information to the National Bank of Georgia) of the rule approved by “the order N162/04, December 4, 2017 of the President of the National Bank of Georgia on Rules on Compiling Reports and Submitting Information on the Supervision of Terrorism Financing and Money Laundering Risks by Commercial Banks”;
    4. For 2 (two) case for failure to comply with the requirements regarding reporting suspicious transaction to the Financial Monitoring Service of Georgia, set by the Paragraph 2, Article 9, law of Georgia „On Facilitating the Suppression of Money Laundering and Terrorism Financing”;
    5. For 1 (one) case for failure to comply with the requirements regarding reporting suspicious transaction to the Financial Monitoring Service of Georgia, set by the Paragraph 1, Article 25, law of Georgia „On Facilitating the Suppression of Money Laundering and Terrorism Financing”.