The monetary fine of 46 000 (Forty-six Thousand) GEL was imposed on commercial bank “Paysera Bank Georgia” JSC (I.N. 402204841)

1. For 3 (three) cases for failure to comply with the requirements of Articles 6 (Identification of a legal person), 7 (Verification of a legal person) and 17 (Document certification) of the rule approved by the Order N2 (June 5, 2020) of the Head of the Financial Monitoring Service of Georgia on “Approval of the Procedure of Identification and Verification of a Customer by Obliged Entity”, also for breach of the Requirements set by the Subparagraph “e”, Paragraph 7, Article 1 of the Order N48/04 of the President of the National Bank of Georgia March 30, 2021 on “The rule of electronic implementation of preventive measures by obliged entity” (The client's electronic identification/verification condition has been violated).
2. For 3 (three) cases for breach of requirements set by the Paragraph 5, Article 10, law of Georgia „On Facilitating the Suppression of Money Laundering and Terrorism Financing”, among them in 2 (two) cases also failure the requirements set by the same law, Subparagraph “a” and “e”, Paragraph 1, Article 18, (reasonable measures has not been taken to investigate a transaction and/or determine the source of wealth and the source of funds). In addition, failure of the Requirements set by the Paragraph 6 (in 1 (one) case among them) and Paragraph 9 (in 2 (two) cases among them), of Article 1 of the Order N48/04 of the President of the National Bank of Georgia March 30, 2021 on “The rule of electronic implementation of preventive measures by obliged entity” (Accepting enrollment from a geographical area different from the specified rule, For client verification purposes, the first enrollment operation was not received from the client's country of registration);
3. For 1 (one) case for failure to comply with the requirements set by the Paragraph 12, Article 8 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", also for breach of the requirements of the commercial Bank internal policies/procedures (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);
4. For 1 (one) case for breach of requirements set by the Subparagraph “d”, Paragraph 1, Article 18, law of Georgia „On Facilitating the Suppression of Money Laundering and Terrorism Financing”, (failure to receive permission from the authority on the establishment or extension of business relation with a high risk person).