THE MONETARY FINE WAS IMPOSED ON PAYMENT SERVICE PROVIDER JSC "All Pay Way" (I.N. 400147211)

    The monetary fine of 9 000 (nine thousand) GEL was imposed on commercial bank JSC “All Pay Way” (I.N. 400147211).

     

    1. For 1 (one) cases for misrepresentation of information/documentation to the National Bank of Georgia in the process of inspection;
    2. For 1 (one) case of breach of Law of Georgia on Facilitating the Suppression of Money Laundering and Terrorism Financing Subparagraph D Paragraph 1 of Article 18 of Chapter IV (obtaining the approval of senior management to establish or continue a business relationship);
    3. For 1 (one) cases for failure to comply with the requirements 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" (assigning risk - did not take into account the relevant risk factors determined by the legal act of the National Bank and/or payment service provider’s internal policies/procedures).