BEFORE YOU GO...
Check how Shufti Pro can verify your customers within secondsRequest Demo
The government of Guyana is looking to amend the AML/CFT legislation in the National Assembly to combat illicit money transfer and financial crime on all fronts.
The Minister of Legal Affairs and Attorney General, Anil Nandlall, stated that the Regional Security System (RSS) had a meeting with the General’s Chambers recently. Many gaps and shortcomings were identified in Guyana’s AML/CFT legislative landscape and those will be addressed via the amendments in legislation.
Anil Nandlal stated, “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 a work in progress and soon, two pieces of amendments will be taken to the National Assembly.”
Anil further added that the amendments will strengthen Guyana’s capability to fight financial fraud and money laundering from various channels. In addition, he revealed that the SOCU (Specialised Organised Crime Unit) will receive 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 Attorney General highlighted.
Guyana was recently added to the list of members of RSS. The country is also a part of the ARIN-CARIB (Asset Recovery Inter-Agency Network of the Caribbean) steering group.