The proposals by the opposition and GTUC are just

Feb 27, 2014 Letters

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DEAR EDITOR,
There are a couple of things this society should be mindful of on the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Bill.
i) Laws are dead if they are not implemented.  There is a principal AML/CFT Act that is yet to see implementation by the government;
ii) The concern the Caribbean Financial Action Task Force (CFATF) has with Guyana are twofold – a) implementation of exiting AML/CFT laws and b) embodying its recommendations in any new law;
iii) Since 2009 CFATF has been working with Guyana to ensure (ii);
iv) CFATF sets Guyana for review in May 2014;
v) In 2013, due to the government’s negligence in implementing laws and embracing recommendations via new laws, CFATF was compelled to put Guyana on a Watch list (Black List);
vi) Roger Hernandez, CFATF’s representative, said a) “You require implementation; it is not just passing the law. It is about implementing the law”and b) “from experience the minimal period for removal is approximately two years;”
vii) It means Guyana will be on CFATF’s list until at least 2015.
viii) Passage of the AML/CFT even in its present state is no automatic guarantee that Guyana will be off the list. To that question posed to Hernandez, his answer was “no;”
ix) During the two years Guyana remains on the Watch list, persons and institutions doing business with us  would be expected to take the necessary precautions to ensure financial transactions are legitimate and they do not aid any money laundering or financing of terrorism;
x) Persons and institutions who are engaged in legitimate financial transactions may be required to prove so. But this is a price the law-abiding should be prepared to pay in order to rid the society of illegality and financing of terrorism, that should these acts present/escalate in our society, they pose potential risk of Guyana and Guyanese being negatively profiled. It is public record an estimated 40-60 percent of Guyana’s economy is nacro-controlled. This means the society is dealing with a high presence of money laundering;
xi) Some interested in passage of the Bill see the potential of having a more involved partnership with Guyana to stamp out money laundering and financing terrorism and perpetrators held accountable. These can only be possible if the government implements the laws and the respect the court’s ruling should persons be found guilty;
xii)  This government has a history of non-implementation and disrespect for the court. Some examples are 1) the refusal to respect the 2008 High Court’s ruling in favour of Chapman and Yearwood for broadcasting licence in Linden, 2) 1999 Public Service Award arising from the Armstrong Arbitration Panel, 3) Herdmanston Accord, 4) St.  Lucia Statement, 5) Hoyte/Jagdeo Agreement, 6) Corbin/Jagdeo Communiqué, 7) August 2012 Agreement between Central Government and Region 10, and 8) government’s June 2012 commitment to the Supreme Court to re-issue letters to start arbitration proceedings into the Bauxite Company of Guyana Incorporated (BCGI) impasse;
xiii) When the Private Sector is asking the National Assembly to pass the Bill as is, some things are happening here –  a) a disrespect for our political system that speaks to an inclusionary democracy based on representation,  b) ignorance of our system of governance, c) being the agent of another seeking to manage the nation’s affairs  by dictat;
xiv) Those calling for the Bill’s passage are either unaware of or uncaring  about the non-implementation of the principal AML/CFT Act which would see this nation being taken down a continuous path that would risk the society staying longer on the Watch List (Black list). Clearly, for the CFATF this issue is not only about passing law, it is about implementation. Refer to (vi);
xv) The bottom line is, Guyana has to implement laws and agreement and honour the Court’s decision for the AML/CFT to be effective. When these are not done, the country will not be removed from the Watch list (Black List).
President Ramotar has to demonstrate to this society he has the capability to manage the country in good faith. And good faith means honouring agreements made and having himself and ministers of government respecting the laws. The proposals by the opposition and the Guyana Trades Union Congress are just. Had the president resolved these issues they would have been used as testimony by national and regional institutions and citizens, as to his preparedness to govern consistent with universal and acceptable principles, which are, Respecting Rights and the Rule of Law.
Lincoln Lewis

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