Tbilisi (GBC) – The National Bank of Georgia (NBG) fined Fastfay for violation of AML legislation.

The supervisor found several violations of SGS (electronic wallet), which was fined with 2,000 GEL.

The requirement of the Georgian legislation "On the promotion of prevention of money laundering and financing of terrorism" was ignored with 2 clients due to the lack of permission from the management to establish a business relationship with the person.

In 4 cases, the part of the report was incorrectly delivered to the National Bank. In 2 (two) cases, as a result of the on-site inspection, the provider revealed non-fulfillment of the written requirements within the set period.

The operation of the software system with significant flaws was also revealed.