Georgia Mandates Two-Day Hold on High-Risk Transactions for Seniors

NBG Introduces Two-Day Wait for ‘High-Risk Transactions’ by People Over 60

As of September 1, Georgian banks and other payment service providers are required to temporarily suspend or refuse certain “high-risk” transactions initiated by customers aged over 60, under a regulation that the National Bank of Georgia (NBG) says is aimed at protecting elderly customers from “fraudulent schemes.” The measure applies to transactions exceeding GEL 500 …

By Civil.ge