Tbilisi (GBC) – The National Bank of Georgia (NBG) has released its final list of sanctions for the year, including a penalty imposed on a securities registrar.

CSR was fined GEL 2,000 for failing to determine the business purpose of a client relationship with a securities issuer. This marks the registrar’s second sanction: CSR was previously fined GEL 3,000 in 2022 after its internal procedures were deemed non-compliant with anti–money laundering and counter-terrorism financing (AML/CFT) requirements.

Most of the sanctions issued by the NBG in December were relatively small, typically around GEL 2,000. The largest fine, amounting to GEL 10,000, was imposed on “Safinanso Plus” for repeatedly failing to submit mandatory AML/CFT supervisory reports.

The NBG also fined a taxpayer entity under the Enforcement Service GEL 10,000 for the same violation.