GOVERNMENT must be commended for establishing the Special Organised Crime Unit (SOCU). This unit, it is reported, will be “dedicated to the investigation and prosecution of suspected financial transactions”. The initiative to establish this agency within the Guyana Police Force forms part of Guyana’s obligation to comply with non-parliamentary recommendations as advanced by the Caribbean Financial Action Task Force (CFATF) through its Mutual Evaluation Report of 2011.A major criticism regarding the Financial Intelligence Unit (FIU) is that it does not have the authority to arrest and prosecute individuals and organisations suspected of money laundering or financing terrorism. This SOCU is now expected to perform this vital role.
This important development serves to remind us that the issue of the passage of the Anti-Money Laundering and the Countering of the Financing of Terrorism (Amendment) Bill (AML/CFT) is still very much alive and warrants our collective attention as citizens.
Since the announcement from FATF at the end of June that Guyana will be subjected to a targeted review and development of an Acton Plan to address identified deficiencies in its AML/CFT framework, there has been a thunderous silence on demands for the passage of the requisite legislative amendments.
THE Financial Action Task Force (FATF) will meet again on October 20 to consider and deliberate on the results of the targeted review process.
We, as citizens, and the plethora of civil society organisations, should not wait until a month or weeks before the review is scheduled to commence to be roused into frenzy and desperately implore our parliamentary representatives to pass the legislation. Instead, let us start to demand the passage of those bills now, so as to receive a favourable review come October and save our nation any undesirable consequences for not remedying our AML/CFT deficiencies.
The passage of this Bill will test all our political policy-makers resolve to begin a process of cooperation that will put Guyana first, and would form the foundation of a more collective approach to governance.
Blue CAPS stands ready and committed to initiate a “Pass the Bill” campaign and we will also reach out to other civil society groups and partners to do so.
Clinton Urling
Blue CAPS