– AG Nandlall describes the process as a ‘work in progress’

GUYANA is in the process of putting in place alternatives to address the technical deficiencies in its existing legal and financial legislative architecture for the assessment of the Financial Action Task Force (FATF). This position was made clear during the face-to-face interaction with the Americas Regional Review Group (ARRG) in Miami on September 29.Attorney General and Minister of Legal Affairs Mr. Anil Nandlall, who led the Guyanese delegation to the interaction, said that all of this is as a consequence of the non-passage of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) (Amendment) Bill.
“Were we able to pass the Bill then we would not have had to go through this process, but because we did not pass that Bill we now have to look at alternative mechanisms to satisfy the technical requirements,” he explained.
FATF has appointed a special body comprising representatives from the Americas to work with Guyana for the purpose of making a presentation of Guyana’s case to that body’s plenary meeting on October 18-24 in Paris.
This high-level team will send its work plan to Guyana along with other issues that they may identify for addressing for consideration by FATF. During the meeting with the AARG, some of the proposals put forward by Guyana as part of the work plan, were also discussed.
Essentially, the final report that will be prepared by Guyana under the supervision of the AARG will be Guyana’s case to FATF at its October plenary.
Minister Nandlall described the process as a “work in progress”, but noted that the engagement with the AARG was fruitful and constructive.
Within the next two-three days, Guyana will receive a comprehensive response from the AARG which would document the details of the discussions with recommendations of what they would like to see done in preparing the final report which will be taken to Paris.
Prior to that meeting however, Guyana is expected to give an undertaking in writing either from the Attorney General or President Donald Ramotar himself as to when the country will complete the third round of reviews.
As it stands, Guyana is the only country that is so technically deficient in terms of its financial crimes legislative framework in the Western Hemisphere. All of the other FATF member-countries are now concluding their fourth round of examinations.

Minister Nandlall explained that, “we are still to graduate from the third round because of the non-passage of that Anti-Money Laundering Bill.”

Pursuant to the provisions of the extant AML/CFT Act of 2009, the AG said that he had promulgated regulations, guidelines and ministerial directives; however, the issue remains as to whether or not they have the force of law and are effective in addressing the identified technical deficiencies.
Meanwhile, in a previous interview the AG described the parliamentary Opposition’s unrelenting objection to the passage of the Bill as “obstinate” and “obstructionist”. He said that he is not the least bit optimistic that the Opposition will see reason and support the Bill.
The AML/CFT Bill was tabled in the National Assembly since early last year and despite the pressures mounted by Guyanese and foreigners alike; the Bill that will bring Guyana into compliance with international requirements, has been voted down, re-tabled in Parliament, crucial deadlines were missed and to date, it is still languishing at a select committee whose deliberations have and continue to be marred by delaying tactics.
The AG said that the AFC and APNU are bent on rejecting it and thereby demonstrating their blatant refusal to implement the recommendations of the Caribbean Financial Action Task Force (CFATF).

(GINA)