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Guyana goes to CFATF without anti-money laundering legislative amendment

Aug 22, 2013 News

 

Government has blamed the opposition for Guyana effectively missing its second deadline to amend its Anti-money Laundering and Combating Financing of Terrorism laws.
The deadline was given by the Caribbean Financial Action Task Force (CFATF) because of the Parliamentary Opposition.
Cabinet Secretary, Dr. Roger Luncheon, said that Guyana was today expected to submit its update on actions taken to address the recommendations of Guyana’s evaluators, as they sought to remedy the deficiencies uncovered in Guyana’s anti-money laundering and combating the financing of terrorism compliance.
Currently, the Head of the Intelligence Financial Unit Paul Geer and Attorney General Anil Nandlall are meeting with officials of the CFATF.
Explaining why the Opposition, (A Partnership For National Unity (APNU) and Alliance For Change (AFC)), is to be blamed for Guyana not meeting the deadline, Luncheon said that they voted in favour of adjourning the Parliamentary Special Select Committee reviewing the Bill, until October 2013, despite objections by Government’s Members of Parliament.
“The Opposition members on the Committee turned out in full force, and records would show this was an unusual turn out and essentially to ensure that the adjournment was voted for,” he said.
He added that this action by the Opposition has resulted in Guyana not meeting the deadline for submission of the Parliamentary legislative component, which was made known publicly by the CFATF.
In May, after missing its first deadline, Government said it was given until November to see its Anti-money Laundering and Combating Financing of Terrorism Bill amended. However, it was later revealed that the deadline was actually August 26. This was confirmed by CFATF but AFC refused to accept the deadline is August 26 maintaining it was November.
Meanwhile, discussions in the Special Select Committee were interrupted several times by the Opposition because of claims of unfavourable statements and actions of Government in and out of the Committee.
According to Dr. Luncheon, the deadline by CFATF was publicly advertised and he could only assume that “the act of the Opposition was deliberate and one that was planned to ensure that Guyana would not meet the deadline and Guyana would stand the consequences of not meeting that deadline…We are aware of the thrust of those consequences seeking to affect the health and operations of Guyana financial and banking systems.”
Whilst the legislative aspect of meeting the recommendations was challenging, Government was able to fulfill its non-legislative tasks.
He said that the meeting that is being attended by the Director of Intelligence Financial Unit and the Attorney General has the task of compiling both the legislative and non legislative responses to the recommendations.
“I am assured by the Attorney General that they have compiled all of the necessary information and they are satisfied with the status of those extra parliamentary recommendations and the way they have been handled by Guyana,” Dr. Luncheon said.

 

 

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