The Oversight Committee of the National Bank of the Kyrgyz Republic has fined a payment organization/payment system operator 1,454,804.68 soms for violations in data protection and customer due diligence during international electronic transfers.
The penalty was imposed for violating Kyrgyz Republic banking legislation regarding the operation of automated systems and the protection of transaction data.
The payment organization also breached AML/CFT legal requirements concerning customer due diligence procedures during international electronic money transfers.