Georgia

New Documents

The Council of Europe’s Group of States against Corruption published a second compliance report on Georgia under the fourth evaluation round, highlighting the country’s progress to implement anti-corruption recommendations with regard to members of parliament, judges and prosecutors.

The Council of Europe Group of Experts on Action against Trafficking in Human Beings published the third evaluation round report on Georgia’s effort to provide access to justice and effective remedies to victims of human trafficking.

News

Enforcement Actions

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Important Facts

  • The U.S. State Department labels Georgia as a major money laundering country. Much of the illicit proceeds in Georgia are derived from bank fraud and cybercrime. Due to Georgia’s location in a significant and well-established trafficking corridor, bulk cash smuggling and money laundering are notable threats. The State Department underlines that recent international investigations revealed that Georgia is a popular virtual currency mining location, and that the country only has handful of qualified and competent digital forensic analysts. In particular, cryptocurrency is unregulated in Georgia and is an area that the country should address, along with its gaming industry. Georgia has an adequate legal and institutional framework for investigating and prosecuting money laundering offenses. New legislation passes in 2019 extended enhanced due diligence requirements to apply to both domestic and foreign politically exposed persons. The law also increases the ability of law enforcement to retrieve information from Georgia's Financial Monitoring Service for investigating money laundering and terrorist financing. In the fiscal year 2020, 36 money laundering prosecutions were initiated, compared to 25 in 2019. The State Department highlights that 2020 also saw two people being convicted of money laundering.
-Source: 2021 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 6 High : 0
Largely Compliant : 21 Substantial : 2
Partially Compliant : 12 Moderate : 8
Non-Compliant : 1 Low : 1

BASEL i

Rank : 103/141
Score : 4.54/10

TRANSPARENCY INTERNATIONAL i

Rank : 44/180
Score : 56/100

Tax Justice Network i

Rank : 44/176
Score : 57/100