AG prepares for FATF visit with sensitization project

Jul 09, 2016 News

Attorney General, Basil Williams

Minister of Legal Affairs and Attorney General, Basil Williams, is seeking to make adequate preparation for the Financial Action Task Force (FATF) – International Cooperation Review Group (ICRG) on-site visit.
The Attorney General will be leading Guyana’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) compliance team to conduct sensitization meetings with the agencies that were the subject of the FATF Action Plan.
The sensitization meetings will be held during the period July 21, to August 4, next.
The agencies to participate in these meetings include the Financial Intelligence Unit (FIU) and Special Organized Crime Unit (SOCU).
Supervisory Authorities like the Bank of Guyana, the Guyana Securities Council, Gaming Authority, Guyana Revenue Authority and the Guyana Gold Board will also participate in the meetings.
All banks, money transfer agencies, licensed cambio dealers, securities companies, licensed gold dealers and pawnbrokers will also partake; these are considered, reporting entities.
Princess International Casino will also be invited.
At the recently concluded meeting of FATF which was held in Busan, Korea, the FATF reported that Guyana has fully addressed at a technical level, all the items on the Action Plan which was agreed with the FATF.
In this regard, the FATF has decided to conduct an on-site visit to Guyana by September 2016 to confirm that the process of implementing the required reforms and actions is underway to address deficiencies previously identified by that body.

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