Guyana to amend Anti-money laundering legislation
Key Points(5)
- Guyana’s Government will soon introduce amendments to the Anti-Money Laundering and Countering the Financing of Terrorism Act in the National Assembly to combat financial crime and money laundering on all fronts.
- “We have begun to work immediately in correcting those gaps.
- They have offered us recommendations and we are working to implement those recommendations in the form of legislative amendments.
- That is work in progress and soon, two pieces of amendments will be taken to the National Assembly,” he said.
- Nandlall said the amendments will strengthen Guyana’s capability to counter money laundering and other financial crimes.
Guyana’s Government will soon introduce amendments to the Anti-Money Laundering and Countering the Financing of Terrorism Act in the National Assembly to combat financial crime and money laundering on all fronts.
Attorney General and Minister of Legal Affairs Anil Nandlall said the Regional Security System (RSS) met with the Attorney General’s Chambers recently and several gaps were identified in Guyana’s AML/CFT legislative landscape and those will be addressed via the legislation.
“We have begun to work immediately in correcting those gaps. They have offered us recommendations and we are working to implement those recommendations in the form of legislative amendments. That is work in progress and soon, two pieces of amendments will be taken to the National Assembly,” he said.
Nandlall said the amendments will strengthen Guyana’s capability to counter money laundering and other financial crimes.
In addition, he said, the Specialized Organized Crime Unit (SOCU) will be receiving technical support from the RSS.
“They have engaged with SOCU and they offered technical assistance whenever requested and they also have said that they will offer attachment programmes, whereby SOCU officers can go to the RSS and do attachments with them to enhance their capacity and training …of course, we will take advantage of that offer,” the AG highlighted.
Guyana was recently accepted as a member of the RSS and is also a part of the Asset Recovery Inter-Agency Network of the Caribbean (ARIN-CARIB) steering group.
CMC/
