Dear Editor,
The issue of anti-money laundering and combating the financing of terrorism is of concern to the international community. The Financial Action Task Force (FATF) identifies jurisdictions that have strategic deficiencies and works with them in order to protect the international financial system from money laundering and the funding of terrorism (AML/CFT). The fact that Guyana’s issue of compliance with recommendations made earlier by the Caribbean FATF was not discussed during the meeting of the FATF Plenary in Paris on February 12-14, 2014 may be seen as another opportunity for the local legislature to make proper adjustments to comply with the requirements.
Prior to the second FATF Plenary meeting that was held under the presidency of the Russian Federation, Ambassador of Russia to Guyana HE Nikolay Smirnov addressed all political groups in the Parliament of Guyana to consider the importance of the amendments to the AML/CFT Bill to avoid possible negative consequences because of non-compliance with the recommendations of CFATF.
The Ambassador of Russia is not alone in his call for the amendments. The heads of other diplomatic missions to Guyana, Caricom, OAS, local business organizations and stakeholders called upon the opposition to approve the AML/CFT Bill.
Hopefully the leaders of the political parties in Parliament will come to a consensus on this important issue and Guyana will not be subject to sanctions from other countries that can impede its economic development.
As for the “foray” into domestic policies and “peppering” the envoy or “track record” of a prime Russian investor here which you referred to in your article ‘TUC challenges Russian envoy over RUSAL labour violations’ published on February 14, 2014, it is up to the court to determine whether there were any violations of Guyana’s laws.
The Bauxite Company of Guyana Inc (BCGI) is a joint venture and was created in 2004 according to the laws of Guyana and abides by the laws of the country. Since the start of its operations it brought prominent tax revenue to the state budget of Guyana paying billions of dollars.
Detailed information on the socially responsible policy of the company was presented by BCGI at a social workshop held in Linden, Region 10 on January 26, 2013 and can be obtained upon request.
Yours faithfully,
Denis Kopyl
Press-Attache of the
Russian Embassy in Guyana
