Guyana has been advised of a stringent review process costing millions of dollars with an international body policing the local financial sector likely to set up shop here as a result of the country’s failure to pass anti-money laundering legislation, according to Attorney-General Anil Nandlall.
“In terms of the way forward, I am not clear on how we proceed,” Nandlall told a PPP symposium on the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Bill at Red House on Monday. He said that he suspects that the international Financial Action Task Force (FATF) will commence a protracted review by its’ International Co-operation Review Group (ICRG). The ICRG analyses high-risk jurisdictions and recommends specific action to address the ML/FT risks emanating from them. The Caribbean Financial Action Task Force (CFATF) last urged