Detentions Made in Kakheti and Kvemo Kartli
The Investigation Service of the Ministry of Finance of Georgia announced today, September 23, 2025, the detention of two individuals suspected of engaging in illegal currency exchange operations. The arrests took place in the regions of Kakheti and Kvemo Kartli, following operative-search and investigative measures.
Unlicensed Entrepreneurial Activity Uncovered
According to the investigation report, the detained individuals were systematically involved in currency exchange activities without possessing the required permits, constituting illegal entrepreneurial activity. This contravenes Georgian financial regulations which mandate specific licensing for such operations.
Significant Funds Seized, Legal Proceedings Underway
During the operation, authorities seized substantial sums of various currencies from the suspects. The confiscated amounts include GEL 4,034, USD 2,617, EUR 270, RUB 257,834, and AMD 87,301. The case is currently being investigated under the first part of Article 192 of the Criminal Code of Georgia. This article pertains to illegal entrepreneurial activities and stipulates a penalty of imprisonment ranging from six to nine years for such offenses.
Investigation Service's Role in Combating Financial Crime
The Investigation Service of the Ministry of Finance is tasked with the prevention, detection, suppression, and investigation of financial and economic crimes in Georgia. Their activities aim to ensure compliance with the country's financial laws and regulations.
6 Comments
Bermudez
No sympathy for illegal businesses. They need to follow the rules like everyone else.
Africa
Cracking down on unlicensed activity protects legitimate businesses and consumers.
Habibi
It's true that financial regulations are crucial to prevent larger illicit activities, but often, informal currency exchange fills a gap for people who can't access traditional banking services easily. There's a balance between control and accessibility to consider.
Muchacho
These laws exist for a reason. Financial stability is paramount.
Mariposa
On one hand, rules are rules, and operating without a license is illegal. However, one wonders if the focus should be more on educating people about regulations or simplifying the licensing process rather than solely relying on severe punitive measures.
Eugene Alta
Finally, some enforcement against those flaunting financial regulations. Good for Georgia!