The National Bank of the Kyrgyz Republic’s Supervisory Committee imposed a KGS 1,454,804.68 fine on a payment organization/payment system operator for breaching banking requirements governing automated systems and the preservation of transaction data, alongside customer due diligence requirements for international electronic money transfers under legislation against financing criminal activity and money laundering.
National Bank of the Kyrgyz Republic fines payment organization KGS 1,454,804.68 for systems and customer due diligence breaches
The National Bank of the Kyrgyz Republic fined a payment organization/payment system operator KGS 1,454,804.68 for violations involving automated systems, transaction data preservation and customer due diligence for international electronic money transfers.