…an important step to ending plague of terrorism
The Anti-Money Laundering and Countering the Financing of Terrorism, which was assented to by President Bharrat Jagdeo on August 14, seeks to provide for the unlawful proceeds of all serious offences to be identified, traced, frozen, seized and eventually forfeited; to provide for comprehensive powers for the prosecution of money laundering, terrorist financing and other financial crimes and the forfeiture of the proceeds of crime and terrorist property; and to require reporting entities to take preventative measures to help combat money laundering and terrorist financing.

Government will now proceed with the implementation of this important piece of financial sector legislation, with Guyana joining the many nations around the world that are combating the plague of terrorism by cutting off resources from getting to their intended recipients.

Terrorist financing
Any person who, directly or indirectly, willfully provides or collects funds or other property with the intention that they be used to aid any act intended to cause death of or serious bodily injury to civilians, a terrorist or a terrorist organisation, is guilty of an indictable offence.

If such an act results in the death of any person, the individual found guilty would be fined not less than $1.5M and would receive the death penalty.

In any other case, the individual found guilty would face a fine of not less than $500,000 together with imprisonment of 10-15 years.

An offence would be deemed to be committed whether or not the funds were actually used to carry out or attempt a terrorist act or linked to a specific terrorist act.

Any person who solicits, provides or possesses money or property for the purposes of terrorism or for a terrorist organisation commits an indictable offence and would be subject to similar punishment.

Seizure and detention of terrorist cash
Where a police officer, customs officer or a person authorised by the Director of the FIU has reasonable grounds to suspect that cash is intended to be used for terrorism purposes, belongs to, or is held in trust for, a terrorist organisation, or is property obtained through acts of terrorism, he/she may seize the cash.

He/she may seize the cash, even if it is suspected that only part of the cash belongs to terrorists, where it is not practicable to seize only that part of the cash.

Such action can be taken whether or not proceedings have been brought for an offence in connection with the terrorist cash.

The officer who has made the seizure, must then, at the earliest possible time, apply to a Judge in Chambers for a detention order in respect of the cash seized.

A detention order would remain valid for 90 days and may be renewed for further periods of 90 days, until production of the cash before the courts in proceedings against any person for an offence with which the cash is connected.

Any cash detained shall be deposited in an interest-bearing account wherever possible.

Freezing of terrorist assets
Where the Director of Public Prosecutions (DPP) has reasonable grounds to believe that any property is held on behalf of a terrorist or terrorist organisation, the DPP may make an application to the High Court to freeze any account or property.

The DPP may also apply to the Court for a forfeiture order against terrorist property and where the Court grants the forfeiture order, the property vests absolutely in the State.

Guyana is a party to the International Convention for the Suppression of the Financing of Terrorism and the Minister of Finance may, by notice in the Gazette, publish a list of terrorists or terrorist organisations, as defined in the International Convention on terrorism. (GINA)