MONEYVAL’s follow-up report highlights that Georgia’s 2024 AML amendments addressed key deficiencies in risk assessment and virtual asset regulations but still require further progress

As a result, the country has been re-rated from “partially compliant” to “largely compliant” on two Financial Action Task Force’s (FATF) recommendations which concern assessing risks and new technologies. Overall, out of the 40 recommendations provided in 2022, Georgia currently has been rated:  “compliant” on seven recommendations, “largely compliant” on twenty-four recommendations, “partially compliant” on eight recommendations, and “non-compliant” on one recommendation, that related to non-profit organisations…