Following complaints from pensioners and parents of minor savers of unnecessary hassle in conducting transactions, the Bank of Guyana (BoG) is working with banks to ease red tape without breaking any of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) laws.
“The Bank of Guyana is working with banks to make it easier, to have some kind of standardized procedure to follow that would bring an ease to this but most importantly, in keeping with AML legislation and so on,” a source close to the process told Stabroek News.