THE Parliamentary Special Select Committee reviewing the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Amendment Bill will meet today, even as Guyana faces the increasing likelihood of international blacklisting.Ms. Gail Teixeira, who chairs the group, said in the National Assembly, yesterday, that the Bill is being “tortured” in the Committee.
The Government Chief Whip made the remark when speaking on a motion, moved by Opposition Leader David Granger, to establish a Commission of Inquiry to investigate the torture of persons by the Guyana Police Force (GPF) between 2006 and 2013.
“I honestly feel that I am a victim of torture,” she declared, referring to the length of time the legislation has spent at the level of the Select Committee.
Additionally, the Caribbean Financial Action Task Force (CFATF) is scheduled to begin meeting in Miami, Florida, United Sates, on Sunday, May 25 through Thursday, May 29.
Guyana is expected to make an appearance before regional body next Monday, May 26, represented by a team lead by Attorney-General (AG) and Minister of Legal Affairs, Mr. Anil Nandlall.
Teixeira maintains the fact that the positions taken by the Opposition parties are unfortunate, given the looming deadline and the devastating consequences non-passage of the AML/CFT Amendment Bill will have for Guyana.
If the final deadline on May 29 passes, Guyana can be recommended to the Financial Action Task Force (FATF), for review by the International Cooperation Review Group (ICRG).
Once that is done, this country could be liable to further sanctions, including being put on the international blacklist, having already been blacklisted regionally by CFATF.
It remains unclear if Guyana will be able to have an amended AML/CFT Bill passed before CFATF meets next week and several stakeholders posit that this eventuality may very well be unlikely.