Tbilisi (GBC) - Fines of 1.699 million GEL were imposed on companies in the financial sector on charge of money laundering.

In 2019, the National Bank of Georgia (NBG) launched inspection of 61 companies.

Fines were imposed on the following segments:

1. commercial banks – 726,000 GEL
2. microfinance organizations – 539,300 GEL
3. payment service providers – 256,400 GEL
4. currency exchange booths – 177,100 GEL

The NBG launched inspection of 9 payment service providers at the end of 2018.