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US pushes asset forfeiture to help boost money laundering fight
…says underpaid police, SOCU weak link in enforcement efforts
Kaieteur News- Noting that money laundering poses significant challenges to Guyana and continues to affect the nation’s economy and governance, the United States Government has called on the President Irfaan Ali administration to strengthen its Anti-Money Laundering regime by fully implementing existing laws, including pursuing asset forfeiture. And Washington has also identified what it described as the “underpaid Guyana Police” as the weak link in the country’s enforcement programme.
United States Government has called on Guyana Government to strengthen its Anti-Money Laundering regime
The comments were made in the US 2025 International Narcotics Control Strategy Report (INCSR) released by the Department of State. “Money laundering poses significant challenges to Guyana and continues to affect the nation’s economy and governance. Often linked to corruption and organised crime, money laundering in Guyana has grown into a systemic issue involving both public officials and private citizens,” the report stated. It added that Guyana’s location within South America, the presence of drug trafficking routes, and its cash-dependent economy also make it susceptible to illicit money flows. “The country’s anti-money laundering (AML) infrastructure, while improving, continues to face challenges due to limited technological resources, weak oversight, and a lack of transparency in public procurement processes.” The report mentioned that in June 2024, the United States sanctioned one of Guyana’s largest gold exporting companies along with a high-ranking government official, for engaging in bribery and manipulating gold export records to evade $50 million in taxes from 2019 to 2023.
In Guyana, the major agencies involved in anti-drug and AML efforts are the Guyana Police Force, Guyana Revenue Authority, Customs Anti-Narcotics Unit, SOCU, Bank of Guyana, and the FIU. In July 2024, SOCU opened an investigation into Deputy Commissioner Calvin Brutus for financial impropriety. The US report states that investigations revealed the commissioner held over $17,400 (3.8 million Guyanese dollars (GYD)) in assets – including nearly $11,000 (2.4 million GYD) held in several accounts in his and family members’ names, and $6,400 (1.4 million GYD) in properties and other physical assets. As of November 2024, he was charged with 231 offences, including charges of money laundering.
SOCU reported 13 active money laundering cases that were before the courts as of November 2024. Just one conviction has been secured thus far. “Many interlocutors consider the underpaid and under-resourced Guyana Police Force the weak link in Guyana’s AML enforcement program. For example, most SOCU investigators are former patrol officers who receive very little training specific to financial crimes. For these reasons, the vast majority of money laundering cases go unprosecuted. To strengthen its AML regime, Guyana should fully implement existing laws, including pursuing asset forfeiture in full compliance with the law, and stricter oversight and transparency in high-risk sectors like gold export and public procurement. Investing in training for local law enforcement and financial regulators would also build the AML/CFT capacity of these authorities.”
According to the report, Guyana’s vulnerabilities stem from the relatively small financial sector and limited regulatory resources that make it challenging to enforce stringent AML measures effectively. The report noted that Guyana’s most recent anti-money laundering/combating the financing of terrorism (AML/CFT) national risk assessment (NRA) was finalized in July 2021, and Guyanese officials rated Guyana’s money laundering risk as medium-high. Experts assess that dealers in precious minerals and traders licensed to export are highly vulnerable to money laundering; used car dealers, banking and building societies, and money transfer agencies are also identified as vulnerable.
The US Government said gold smuggling in Guyana often facilitates money laundering, as criminals use illegal gold sales to disguise illicit funds, bypassing regulations. “In the mining sector, money laundering methods include large cash deposits using forged agreements of sale for nonexistent precious minerals as well as cross-border transport of concealed precious metals to avoid payment of the relevant taxes and duties. In July 2024, Guyana’s Special Organized Crime 2025 INCSR: Volume 2 | Countries and Jurisdictions Page 149 of 305 Unit (SOCU) charged four persons with money laundering for attempting to smuggle approximately 240 ounces of virtually pure gold (valued at over $560,000) disguised as silver-plated jewelry without having the necessary permits,” the report stated.
The report states that over the last two years, authorities significantly reduced the structuring and flipping by users of money and value transfer services (MVTS). “However, a high level of structuring at commercial banks continues and is linked to trade-based money laundering (TBML) and tax evasion. High numbers of suspected cash couriers and repeated transactions below reporting thresholds are other ways criminals launder illicit funds,” the report stated.
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- “underpaid Guyana Police”, Guyana Police Force, International Narcotics Control Strategy Report, President Irfaan Ali, United States government
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