THE MONETARY FINE WAS IMPOSED ON MICROFINANCE ORGANIZATION "MICROFINANCE ORGANIZATION RICO EXPRESS (I.N: 205034639 )" FOR:

The failure to set up an electronic data-processing System consistent with the purposes of Facilitating the Suppression of Money Laundering and Terrorism Financing - The obliged entity was fined 20 000 (Twenty Thousand) GEL;

Non- Submission of the Information/Documents to the Inspection group during the inspection period –the obliged entity was fined 5 000 (five thousand) Lari.

The Failure to evaluate and examine transactions and/or funds of 13 (thirteen) customer, as required by the Law of Georgia on Facilitating the Suppression of Money Laundering and Terrorism Financing – the obliged entity was fined 39 000 (Thirty nine thousand) Lari in total.

2 (two) cases of late/inaccurate Submission of the Information – In total the obliged entity was fined 4000 (four) Thousand Lari.

2 (two) cases of failure to report accurate information to the National Bank of Georgia under the provisions of the "Rule on the filing and submitting illicit income legalization and Terrorism Financing Risk Supervision Reports by Microfinance organizations" adopted on May 31, 2016 by the decree № 61/04 of the President of tahe National Bank of Georgia –In Total the obliged entity was fined 2000 (two thousand) GEL.

In total Microfinance organization was fined 70 000 (Seventy Thousand) GEL.