TWO major postings, legal advisers and financial analysts, were advertised yesterday by the Financial Intelligence Unit (FIU), as it seeks to improve its staff complement.

Finance Minister, Dr. Ashni Singh, said: “In keeping with the FIU’s mandate, which is to facilitate the detection, prevention and deterrence of money laundering, and financing of terrorist activity in Guyana, the unit seeks to fill several key positions.
He added: “These are publicly advertised positions which suitably qualified persons are invited to apply for and fill.”
Up to press time Paul Geer, Director of the FIU, was unavailable for comment on how the new staff would improve the unit’s capacity.
Established under the 2009 Anti-Money Laundering Countering of Financing of Terrorism (AML /CFT) Act, the FIU is tasked with requesting, receiving, analysing and disseminating suspicious transaction reports and other information related to money laundering and terrorist financing, as well as those related to proceeds from criminal acts.
Guyana has new deadlines to implement the recommendations or face sanctions.
Since missing the November 18 deadline, CFATF, at its plenary meeting, warned its members to “consider implementing counter measures to their financial systems from the ongoing money laundering and terrorist financing risks” emanating from Guyana.
The France-based Financial Action Task Force (FATF) is expected to hold a review in February, which Guyana could be included in, following CFATF’s designation of Guyana as a country with strategic anti-money laundering and countering the financing terrorism deficiencies that has not made sufficient progress in addressing the deficiencies and have not complied with its Action Plan developed with CFATF to address these deficiencies.
CFATF itself is expected to review Guyana’s position in May 2014 at its next meeting. If Guyana is unable to meet the May 2014 deadline, the body is expected to hand Guyana over to the Financial Action Task Force for the International Cooperation Review Group’s (ICRG) evaluation to begin.