The National Bank of Georgia (NBG) has issued a statement following the disclosure of a large-scale illicit income legalization scheme involving hundreds of millions of dollars and euros. The case, investigated by the Prosecutor’s Office in coordination with the State Security Service, centers on the laundering of approximately USD 624 million and EUR 35 million between 2022 and 2024. One individual has been detained on money laundering charges.
The NBG stated that the institution provided all requested information to investigators in a timely manner and in full compliance with legislative procedures. The bank also stressed that it applied supervisory measures within its mandate to safeguard financial stability.
As part of its broader oversight role, the NBG continues to supervise currency exchange points and monitor risks related to money laundering, terrorism financing and international sanctions. The bank employs a risk-based supervisory approach consistent with international standards and enforces penalties when violations are detected. In cases where suspected criminal activity arises, information is transferred to the relevant authorities.
