Special Report: Legislation
April 4, 2017
TAX & LAW BRIEF
THE ORDER #43/04 OF THE PRESIDENT OF THE NATIONAL BANK OF GEORGIA
The Order approves reporting rules for the Payment Service Provider (Provider) regarding money laundering and terrorism financing supervision.
Provider submits following information to the National Bank of Georgia (NBG):
- Information about Provider (name, supervisory board members, beneficial owners, directors, subsidiaries and their registration countries, persons carrying out monitoring activities etc.);
- Information about different risk level clients and number of transactions and amounts effected;
- Information about the clients who have been identified based on the information obtained from the third party (name of the clients, the source of the obtained information).
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