The Guyana Government has delivered a letter to the Financial Action Task Force (FATF) committing to remedy gaps in the country’s anti-laundering legislation, GINA said last evening.
The letter was delivered in Paris, where the FATF is meeting, by Attorney General Anil Nandlall.
Observers note that the commitment still requires an agreement between the government and the opposition so that the amended bill can be passed in Parliament.
The government and the opposition have haggled on the bill
for over two years and an agreement is still to be reached.
Yesterday, Guyana was reviewed by the FATF’s International Co-operation Review Group, in Paris. GINA said that the country’s case will continue to be reviewed over the next two days of the plenary session of the meeting, and at the end of that process, the country will know its fate.
In his presentation, GINA said that the Attorney General reiterated the country’s commitment to international financial legislation, and reported that an action plan was worked out between Guyana and the Americas Regional Review Group (AARG) in which certain technical deficiencies were pinpointed in Guyana’s Anti-Money Laundering/ Countering the Financing of Terrorism (AMLCFT) regime and timeframes were agreed for these deficiencies to be rectified.
GINA said that Nandlall highlighted that a national task force has been established, comprising very high ranking members of government and important stakeholders/agencies of state, and that it is currently reviewing a five-year plan for Guyana’s AMLCFT regime.
