Guyana boosting capacity to fight financial crimes

Judicial officers are undergoing asset recovery training so that Guyana’s ability to fight financial crimes locally and regionally can be improved.

The training got underway on Monday at Duke Lodge in Kingston, Georgetown.

Chancellor of the Judiciary (ag), Yonette Cummings- Edwards underscored the importance of this training, noting that there is an increased need for capacity building and regional collaboration as Guyana undergoes rapid economic transformation.

For this training, local authorities are partnering with the Regional Security System (RSS) Asset Recovery Unit’s (ARU) Financial Investigation. Aside from judicial officers, stakeholders from other State institutions and law enforcement agencies will benefit from training this week.

“It’s a very holistic approach to training and preparing ourselves to meet the modern changes and the modern obligation which Guyana as a nation state has to discharge at an international and regional level,” Attorney General and Minister of Legal Affairs, Anil Nandlall, SC said at the opening session of the training.

According to him, the focus on asset recovery extends to civil forfeiture and newer areas of financial crime including those that involve crypto currency.

Asset recovery, according to the United Nations (UN) Office on Drugs and Crime, refers to the process of tracing, freezing, confiscating and returning funds or assets that were obtained through illegal means.

The focus on asset recovery and training local officers is part of Guyana’s commitment to Anti-Money Laundering and Countering the Financing of Terrorism and Proliferation Financing (AML/CFT/PF).

This workshop, a statement from the Attorney General’s Chambers noted, is expected to address some of the deficiencies identified in Guyana’s AML/CFT/PF systems.