Gaps in Guyana’s financial crimes laws under review for correction – Nandlall

As part of the government’s commitment to combat financial crimes and money laundering, new amendments are in the pipeline for the current Anti-Money Laundering and Countering the Financing of Terrorism Act.

Attorney General and Minister of Legal Affairs, Anil Nandlall, SC, made the disclosure during his weekly programme ‘Issues in the News’ on Tuesday.

The Regional Security System (RSS) recently met with the Attorney General’s Chambers and several gaps were identified in Guyana’s AML/CFT legislative landscape.

“We have begun to work immediately in correcting those gaps. They have offered us recommendations and we are working to implement those recommendations in the form of legislative amendments.

“That is a work in progress and soon, two pieces of amendments will be taken to the National Assembly,” the attorney general disclosed.

The amendments will strengthen Guyana’s capability to counter money laundering and other financial crimes.

In addition, the Specialised Organised Crime Unit (SOCU) will be receiving technical support from the RSS.

“They have engaged with SOCU and they offered technical assistance whenever requested and they also have said that they will offer attachment programmes, whereby SOCU officers can go to the RSS and do attachments with them to enhance their capacity and training …of course, we will take advantage of that offer” he highlighted.

Guyana was recently accepted as a member of the RSS and is also a part of the Asset Recovery Inter-Agency Network of the Caribbean (ARIN-CARIB) steering group.