The monetary fine of 75 000 (seventy five thousand) GEL was imposed on commercial bank “LIBERTY BANK” JSC (I.N. 203828304)

1. For 7 (seven) cases for misrepresentation of information/documentation to the National Bank of Georgia in the process of inspection;
2. For 1 (one) case for failure to comply with the requirements of Article 2 of Appendix N1 of the Order N82/04 of the President of the National Bank of Georgia May 7, 2019 "On Approving the Risk Assessment Guidelines for Legalization of Illegal Income and Financing of Terrorism" (the risk is not assigned taking into account the relevant risk factors determined by the legal act of the National Bank and/or the internal policies/procedures of the commercial bank);
3. For the breach of the Requirements (software (electronic) system for suspicious transaction detection and submission to the Financial Monitoring Service of Georgia) of Paragraph 6, article 27, law of Georgia „On Facilitating the Suppression of Money Laundering and Terrorism Financing”, and Paragraph 1, Article 3, of the rule established by the Order N1 of the Head of the Financial Monitoring Service of Georgia on June 5, 2020 “On Approval of the Rule on Record-keeping, Storage and Reporting of the Information on the Transaction by Obliged Entity to the Financial Monitoring Service of Georgia”;
4. For 1 (one) case for breach (delay in submitting the report to the Financial Monitoring Service) of the Requirements of Paragraph 3 of an Article 3 of the rule approved by the Order N1 (June 5, 2020) of the Head of the Financial Monitoring Service of Georgia on “Record-keeping, Storage and Reporting of the Information on the Transaction by Obliged Entity to the Financial Monitoring Service of Georgia”.