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WHAT’S THE FUSS ABOUT?

May 22, 2013 Features / Columnists, Peeping Tom

 

Why should Guyana be rushing to pass updated anti-money laundering laws without adequate time for these laws to be considered by a parliamentary select committee? What is the fuss about?
In whose interest anyway are these proposed laws? These laws serve the interests of the G20 grouping, comprising the world most powerful countries. These  laws have nothing to do with Guyana but are intended to serve the national security interests of the industrialised world that are interested in curtailing the flow of funds from the sale of narcotics  and to terrorist organisations.
There is no evidence that anyone in Guyana is funding terrorist organisations. And if there is money from the trafficking in narcotics, then this money is flowing from the very countries which have failed to shut the backflow valves and which now want countries like Guyana to pass anti-money laundering or face the threat of being blacklisted.
Why should Guyana be rushing to pass any laws?  Simply because the industrialised countries want this?
These countries already have you stripping down to your socks and having to take off your belt when passing through your own airport. Do you know how disconcerting having to take off your belt is to men who have big bellies? Do you know how hard it is for heavy-sized men to bend down to take off their socks? It is hard enough getting them on much less to have to take off your shoes and then your socks for security checks at airports.
Why should Guyanese travelers be asked to take off their belts and shoes at airports simply because more than ten years ago there was a terrorist incident in New York City in which aircraft was used. Since then you cannot even take a bottle of water in your hand piece.
We should not be rushing to pass any money laundering laws just to ensure that we are not blacklisted. Let Guyana be blacklisted. The world will not end. Our legislators need time to consider the proposed legislation. The public also needs time to be consulted on this legislation.
Why new legislation on money laundering when the last set of regulations passed caused so much problems and disruption. Guyanese must not forget when all the banks called on their depositors to produce proof of address or risk having their accounts frozen. That caused a great deal of problems. Guyana was not yet ready for this.
We were also not ready for a situation whereby if you go to change a US$20, you have to produce identification at the cambio or bank. This means that when you go and change foreign currency, third parties know your business and this can place you at risk.
We therefore cannot be rushing into passing laws. The international community has to understand that not because they say jump, Guyana must ask how high. This is wrong and there is no reason why any legislation of this nature should be rushed through parliament without being considered by the public and without scrutiny of a select committee.
If it takes one year for this process to take place then so be it. Guyana should not be afraid of being blacklisted. Let us be blacklisted, who cares?
We should not be rushing through any legislation simply to satisfy any international task force and more so since the very laws to be passed are more about foreign countries interests rather than our own.

 

 

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