The attitude of the Opposition parties to the Anti-Money Laundering and Counter the Financing of Terrorism Amendment Bill clearly reveals their intention to place the interests of Guyanese in jeopardy.  Not passing this bill, or passing it with amendments that do not coincide with CFATF AND FATF rules, will lead to the blacklisting of Guyana in which many international institutions will not want to deal with our financial institutions.

 THE ORIGIN OF THE LAW
After the attack by terrorists on several targets throughout the world but particularly the attack on the US in 2001, the international community decided to join efforts to fight illegal funds, (anti-money laundering), and financing of terrorism (usually the proceeds of these funds go to gun running and eventually end up supporting terrorists organizations).
One of the measures that was decided on to combat those crimes was the standardizing in the main the laws dealing with this issue.  All the countries in the Caribbean and most in the world have passed similar legislation.
The principal act was passed in the Parliament of Guyana in 2009.  Then it got the full support of the then Opposition.  The Leader of the Opposition then was Mr. Robert Corbin.
At FATF and CFATF meetings (which meet once or twice a year) the laws are examined and based on the international experience amendments are agreed on to tighten the laws in all the countries.
That is what this amendment is all about.
It is, of course, intended to prevent the drug traffickers, the money launderers and terrorists from taking advantage of any “loop holes” in any country to conduct their “business.”

THE OPPOSITION BEHAVIOUR
The Opposition, instead of passing the bill when it was put in the National Assembly, insisted on sending the bill to a Special Select Committee (SSC) of the Parliament.  They did so on the grounds that they had substantial amendments to make to it.
For some ten months the Opposition offered no amendments to the bill.  They filibustered and wasted time.  The SSC held many meetings and the record would show that the Opposition parties only dragged their feet and did everything to waste the time and frustrate the passing of the bill.
It was only at 9 pm on the evening of Sunday February 9, that the Opposition made proposals.
It is apposite to note that the amendments proposed were not on the bill that is before the Select Committee but to the Act that was passed in 2009.  This is a violation of the practices of Parliament and the Standing Orders.  The Select Committee should only make changes to the bill before it.  The act is not before the Committee.
Once more displaying their dictatorial tendencies the Opposition again used their razor thin one seat majority to subvert the Parliamentary procedures and bulldoze amendments.

THE NATURE OF THE AMENDMENT
One of the amendments they are proposing is to give powers to the police and custom officers to seize any currency above two million Guyana dollars from anyone in Guyana if they suspect them of being in position of such currency.
It should be noted that currency does not mean only cash, but also jewelry, precious metals etc.
This is a major change from what obtains today.  At the moment money of that amount can be taken from a person at the airport or other ports of entry if the person is in possession of such funds does not declare it at entry or exit.

This is enormous powers now being put in the hands of the police and customs officers.  This can lead to serious abuse of power which will also lead to a lot of inconvenience of people.

OPPOSITION AIM
The Opposition’s line is clear.  They are really ready to sacrifice the welfare of the Guyanese people.  For them it seems that they want and are working to damage the economy in the hope that people will blame the Government.
It is the same Opposition, when they were in Government, destroyed our economy and established a dictatorship.
Now in Opposition they are showing the same tendency, using the one seat majority.  On this matter they are not willing to consult with the people.
As they say the leopard cannot change its spots.