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Money laundering risks for Georgian banks

Money laundering risks for Georgian banks

According to the Georgia’s National Anti-Money Laundering and Counter Terrorist Financing Risk Assessment Report and the Action Plan, the risk of money laundering in Georgia's banking sector was rated as average and financing terrorism as moderately low. As for microfinance organizations, the risk of money laundering is lower and was rated as medium-low.

The highest risk in terms of money laundering was in the gambling industry in Georgia and was granted medium-high status. The report was approved by Giorgi Gakharia, the Prime Minister of Georgia on October 30.

At the national level, the risk of money laundering was assessed as average and the risk of financing terrorism as low. 

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