Anti-money Laundering Legislation…Govt. must be held responsible not Opposition

Anti-money Laundering Legislation…Govt. must be held responsible not Opposition – Granger

Nov 09, 2013 News

A Partnership for National Unity (APNU) is insisting that contrary to what the People’s Progressive Party Civic (PPP/C) is peddling, his party is “committed to amending the current Anti-Money Laundering and Countering the Financing of Terrorism Act 2009 (AML/CFT) to ensure that it is effective.”

Leader of the Opposition David Granger

APNU leader retired Brig. David Granger, at a press briefing yesterday at the Office of the Leader of the Opposition; expressed that in addition to wanting to ensure an effective AML/CFT they are “committed to ensuring that the Bank of Guyana and the Financial Intelligence Unit are empowered and equipped to fulfill its functions and achieve the objectives of the Act, as well as engaging the Government of Guyana, the private sector, civil society, the trade unions and the international community to protect our economy with enforceable AML/CFT laws.”
According to Granger, the PPP/C Government has refused to complete essential changes to the AML/CFT Act that would have improved the law and strengthened the Financial Intelligence Unit. These changes were negotiated in the parliamentary Special Select Committee that was established to bring consensus quickly on the AML/CFT between government and the combined opposition (Alliance for Change AFC, and APNU).
However, the “Committee work was abruptly ended by the government chairperson in the absence of the opposition members at the meeting held on October 22, 2013,” said Granger. He articulated that the chairperson knew that the opposition could not meet on October 22 and used that opportunity to close off the Committee.
Chairperson, Gail Teixeira, then sent the report to National Assembly. Granger said that the report did not reflect the views of the Opposition members.
The consequences were that a deficient AML/CFT Amendment Bill was brought before the House on November 7, last. The opposition could not support it, Granger said.
“The Government insisted on putting the Bill to a vote despite strong recommendations by the APNU and AFC that the Bill be returned to the Select Committee to correct the deficiencies. The National Assembly was therefore forced to vote against it to prevent an inadequate, incomplete and imperfect bill from being foisted on the Guyanese people.”
But President Donald Ramotar is insisting that the Opposition objected to the Bill being sent to the Select Committee. Indeed, the government proposed the return to the Select Committee but for a limited period. The opposition objected to the time restriction.
According to APNU if anybody should be responsible for the non passage of the AML/CFT Bill it is the PPP/C Government. Granger said that the PPP/C “administration has deliberately not enforced its own anti-money laundering legislation for over 13 years until it was threatened with sanctions by the Caribbean Financial Action Task Force and the international financial community.”
The Anti-Money Laundering and Countering the Financing of Terrorism Act of 2009 was then introduced under international pressure. It was never enforced and deemed ineffective.
“The Caribbean Financial Action Task Force (CFATF) made recommendations to strengthen the AML-CFT Act, the Bank of Guyana (BOG) and Financial Intelligence Unit (FIU). It was only in April 2013 when Guyana was threatened with being ‘blacklisted’ and deadlines for compliance were set that the Government was forced to introduce amendments to the AML-CFT Act in the National Assembly,” said Granger.
The opposition leader said that the “PPP/C Government must accept full responsibility for the consequences of failure to amend the Act by inserting and implementing the recommendations of the Caribbean Financial Action Task Force.”