Guyana is set to introduce amendments to the Anti-Money Laundering and Countering the Financing of Terrorism Act in the National Assembly, as part of the PPP/C Administration’s efforts to combat financial crime and money laundering. The announcement was made by Attorney General and Minister of Legal Affairs, Anil Nandlall, during his weekly programme ‘Issues in the News’.
Nandlall revealed that gaps in Guyana’s AML/CFT legislative framework had been identified during a meeting with the Regional Security System (RSS). He added that the RSS had offered recommendations, and legislative amendments were being prepared to address those gaps.
“We have begun to work immediately in correcting those gaps. They have offered us recommendations and we are working to implement them through legislative amendments…That is a work in progress and soon, two pieces of amendments will be taken to the National Assembly,” the AG reported.
The proposed amendments will strengthen Guyana’s ability to counter money laundering and other financial crimes. The Specialized Organised Crime Unit (SOCU) will also receive technical support from the RSS, which has offered attachment programmes for SOCU officers to enhance their capacity and training.
Guyana, a member of the Asset Recovery Inter-Agency Network of the Caribbean (ARIN-CARIB) steering group, was recently accepted as a member of the RSS.
