The Anti-Money Laundering and Countering the Financing of Terrorism National Coordination Committee has completed the country’s second Money Laundering/Terrorist Financing (ML/TF) National Risk Assessment (NRA) Report.
This was disclosed yesterday by the Chair of the Committee, Attorney General Anil Nandlall SC.
In a statement, he said that the NRA exercise was conducted in line with the Financial Action Task Force (FATF) Recommendation 1, which requires all countries on a continuous basis, to identify, assess, and understand their ML/TF risks and to take action and apply resources and preventative measures to lessen the identified risks, using a risk-based approach. The exercise, which is the second Money Laundering and Terrorist Financing NRA completed by Guyana within the last six years, was done using the NRA tool developed by the World Bank.