Gov’t pushing Anti-Money Laundering Bills.
This is according to Ramesh Dookhoo who is a former head of the Private Sector Commission. He said the routine money transfers are some of the services already affected.
His comments come as Guyana prepares to face the Caribbean Financial Action Task Force (CFATF) once more. The administration is hoping to make headway with the legislative aspect of recommendations coming from the body. Guyana is expected to report to Caribbean Financial Action Task Force on November 18.
Cabinet Secretary Dr Roger Luncheon says the issue with Guyana failing to meet the legislative aspect of the recommendations by the body remains on the front burner of the administration.
The final step for Guyana to comply with the recommendations made by body would be to pass the Anti-money Laundering and Countering the Finance of Terrorism (Amendment) Bill in the National Assembly.
The Administration is looking to even set up a Financial Investing Unit that will have oversight for matters related to anti-money laundering.
Guyana’s first submission was last month to the body and that report was circulated to all member states and is expected to be examined before the November meeting.
The Financial Action Task Force is a global watchdog against financial crimes, and examines how Guyana and other countries in the Caribbean are meeting international obligations.