NBG Fines Virtual Asset Provider Bitexchange 572.118 Million Lari for AML/CFT Breaches
The National Bank of Georgia has fined the virtual asset service provider Bitexchange 572.118 million lari for breaches of AML/CFT requirements. Each of the company's two administrators was additionally fined 7,000 lari. The inspection took place in February 2026.
The bulk of the fine, 572.033 million lari, relates to violations of customer identification and verification rules: transactions through self-service kiosks were carried out without proper identification.
The NBG also found shortcomings in systems for screening sanctioned persons and PEPs and in systems for detecting suspicious transactions. Two suspicious transactions were not reported to the financial monitoring service. In 2026 the NBG inspected 51 supervised entities, and most of them received monetary fines after the inspections.
Related directory categories: Banks in Tbilisi.
Sources: Source publication.
Read also
MBC seeks exemption for institutional deposits from GEL 100,000 cap
BMG reports MBC's founder proposes exempting deposits from banks and international financial institutions from a GEL 100,000 cap. It remains a proposal.
Credo Bank places $10 million in perpetual AT1 bonds
BMG reports Credo Bank placed $10 million in perpetual subordinated AT1 bonds. Institutional investors bought 54% of the issue, private investors 46%.
Georgia's microbanks hope to cut business-loan threshold from 70% to 50% of portfolio
BMG says Georgia's microbanks expect parliament to lower the business-loan share of portfolios from 70% to 50%, while the NBG considers easing the rules.
Georgia's gross external debt reached $28.2 billion at end-June 2026, or 69.3% of GDP
National Bank of Georgia: gross external debt was $28.2 billion at 30 June 2026, or 69.3% of GDP; 83.1% of it is denominated in foreign currency.
Georgia and UAE Central Banks Sign Memorandum on Financial and Supervisory Cooperation
The National Bank of Georgia announced a memorandum with the UAE central bank on October 13. Signed in Bangkok, it covers financial and supervisory cooperation.
Georgia's International Reserves Hit Record of About $8.1 Billion in September 2026
The National Bank of Georgia reports international reserves reached a record of about $8.1 billion in September 2026. Its statement was issued on October 14.
0 comments
Log in to leave a comment