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Opposition reiterates demands for AML/CFT Bill
By Kiana Wilburg
A Partnership for National Unity (APNU)’s Shadow Minister of Finance, Carl Greenidge, has reiterated that if their demands on the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) bill are not met, then support for the bill will be withheld.
This comes in light of the fact that Cabinet Secretary, Dr. Roger Luncheon expressed that the Opposition is yet to disclose their grievances with the bill and as such, proposed solutions.
Carl Greenidge
However, Greenidge asserts that the demands of APNU were made clear even during their debates last year on the Bill when it was before the National Assembly.
Since the AML/CFT Bill is now back with the select committee, Greenidge has reiterated the demands of the coalition as it relates to the Bill.
Greenidge asserted that the legislation on its own needs to be improved, especially “Articles 8, 15 and 22.”
“APNU will not assent to the People’s Progressive Party Civic (PPP-C) Administration as it relates to appointing and firing all the key Financial Intelligence Unit (FIU) personnel. The qualification of the staff of the FIU needs to be made relevant to their job description.”
The financial point man for the coalition also said that there needs to be provision for the security of information collected by the FIU which it analyses or has analyzed on its behalf.
“The bill should stipulate penalties for unauthorized disclosure of information or for its use for unauthorized purposes, including financial benefit. The Bill or related legislation should identify the Fraud Squad as the relevant agency within the Guyana Police Force with responsibility for execution of the relevant parts of the Bill and the guidelines for the operational interface of key agencies should be spelt out, as should arrangements for the identification and training of the relevant officers.”
Greenidge said that failure of the government to prosecute anyone for money laundering and related activities has nothing to do with the adequacy of the legislation which the Caribbean Financial Action Task Force (CFATF) report described as robust.
“It has to do with the will of the PPP-C and their will is reflected in the instructions given to the key administrators, all of whom they alone appoint, to release persons and equipment seized in the course of carrying out activities/ investigations closely associated with or actually involving money laundering.”
The Member of Parliament added, “Those powers to oversee the administrative or executing agencies (The Guyana Police Force; Customs, The Bank of Guyana, FIU, The Guyana Revenue Authority etc.) and to appoint all their key personnel, should be overseen by civil society and not the PPP-C alone.”
“APNU feels strongly that if this is not done nothing will change, and money launderers will continue to operate throughout Guyana without fear of ever being prosecuted.”
“The tendency of the Executive arm of Government, Cabinet members in particular, to behave lawlessly without fear of reprimand and legal consequences, and the dangers it poses to our fundamental rights are attributable to the refusal of the PPP-C and the Executive to put in place the fundamental rights enshrined in the constitution – Independence of the Judiciary; Ombudsman; Appellate Tribunals, Public Procurement Commission; Constitutional offices etc. These problems will be compounded by strengthening the powers of the Government under the Anti-Money Laundering and Countering the Financing of Terrorism Act.”
He noted too that in the face of the failure of President Donald Ramotar to assent to Bills “properly passed by the National Assembly” to limit or remedy the above, APNU will not pass any legislation laid by the Executive.
“A strong, enforceable Bill should be accompanied by measures to meet our demands for better governance, particularly as it regards fulfillment of outstanding constitutional requirements, including the establishment of the Public Procurement Commission. The two must go hand in hand.”
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