The monetary fine of 18 000 (eighteen thousand) GEL was imposed on payment service provider "ADJARAPAY“ LLC (I.N. 404984978):

1. For 1 (one) case for breach of requirements set by the Subparagraph “a”, Paragraph 3, Article 21, Law of Georgia „On Facilitating the Suppression of Money Laundering and Terrorism Financing” (failure to obtain approval from the management for continuing business relationship with a politically exposed person);
2. 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 obtain approval from the management for continuing business relationship with a high risk customer);
3. For 4 (four) cases for misrepresentation of Reports on the Supervision of Money Laundering and Terrorism Financing Risks;
4. For 2 (two) cases for misrepresentation of information/documentation to the National Bank of Georgia in the process of inspection.