Concerns mount over AML- CFT deadline

Feb 07, 2014 News

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– Watchdog, business bodies urge early passage, budget talks  

Watchdog body, Transparency Institute Guyana Inc. (TIGI), has joined increasing calls for lawmakers to pass critical anti-money legislation or face likely crippling blacklisting measures.
TIGI met with business advocacy group, Private Sector Commission (PSC), on Wednesday to discuss a number of critical issues which have placed the Government and Opposition sides in the National Assembly at odds with each other.
These include the US-led Democracy and Leadership Project; the Anti-Money Laundering and Countering Financing of Terrorism (Amendment) Bill (AML-CFT); the Public Procurement Commission impasse; the Integrity Commission; 2014 budget; the implications of the Chief Justice’s ruling and allegations of police brutality.
According to a joint statement from the two bodies, they remain in full support of the democracy project being handled by the USAID. Government had said it is not supporting the project as it had little input in the process.
“We urge the Government to do everything possible to resolve with the United States Embassy any outstanding issues to ensure the smooth execution of the project. We believe that legislators, political parties and the general citizenry are likely to derive enormous benefits from the project,” the statement from TIGI and PSC said.
They also called for early Local Government elections which have not been held since 1994.
“We call on our political leaders to set aside their differences and take urgent measures to ensure that Local Government elections are held as early as possible to allow residents to elect their leaders among the local communities and to hold them accountable.”
Regarding the AML-CFT legislation currently before the National Assembly, disappointment was expressed at the level of distrust among the political parties, that has so far resulted in failure to amend the existing legislation to bring it in line with international standards.
The laws are necessary in keeping with measures taken by other countries to halt dirty money from being “washed” in the system and used for financing terrorism.
“Our disappointment is further compounded when one considers recent reports that Guyana and Mozambique are rated as the lowest in the world in terms of their legislations dealing with anti-money laundering and countering of terrorist financing.”
TIGI and PSC said the consequence of blacklisting and sanctions will almost certainly have a significant adverse impact on the activities of the business community and on the lives of ordinary citizens. Already, some banks are reporting delays in sending and receiving monies with mandatory measures now in place to verify identities of the persons transacting business.
“We issue an urgent call to our political leaders to set aside narrow political and partisan interests; to put the broader interest first – the interest of the country; and to do whatever it takes to meet next week’s deadline for effecting the appropriate amendments to the existing legislation.”
Both entities, touching on the sloth to establish the Public Procurement Commission despite the laws being passed 13 years ago, called on Parliament’s Public Accounts Committee to expedite the selection of the five best candidates for appointment to the Commission from among the list of 20 persons who have been nominated.
“It is our sincere hope that once these two actions are taken, the President will be in a position to make the appointment.”
Similarly, the Integrity Commission, which monitors public servants and other office holders, noted that the Integrity Commission has not been functioning due to the failure to appoint the Commissioners.
“We believe that a Commission that is staffed with independent, and technically and professionally competent officials, and provided with adequate resources, is the single most important institution in any fight against corruption. …We urge the Government to appoint the members of the Integrity Commission without further delay.”
Meanwhile, on the budget and the implications of the ruling by Chief Justice Ian Chang recently, the bodies said they are aware of the differing views of the various stakeholders on the ruling on whether or not the National Assembly could reduce the Estimates of Expenditure as presented.
“Regardless of how we may feel about the ruling, we urge our legislators to respect the ruling, unless a higher Court decides otherwise. The country cannot afford a third year of political bickering over sums to be allocated for undertaking the essential services of the Government and for infrastructure works.”
They called for a spirit of compromise.
TIGI and PSC also expressed concerns over allegations of police brutality.
“While we acknowledge that the majority of officers carry out their duties diligently and in a professional way, there is a serious deficit in public confidence in the Police Force, precipitated by the actions of undesirable elements in the Force. For too long these rogue elements have been allowed to operate with impunity.”
The Minister of Home Affairs and the Commissioner of Police were both urged to pull out all stops to lift the standards of performance of the Police Force.

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