Guyana to know fate today

THE Caribbean Financial Action Task Force (CFATF) will make its ruling today on the fate of the country, in relation to the possibility of it being referred to the Financial Action Task Force (FATF), for review by the body’s International Cooperation Review Group (ICRG).This was according to Attorney-General (AG) and Minister of Legal Affairs, Anil Nandlall, in a telephone interview last evening.
Minister Nandlall maintained his assertion that Guyana, already blacklisted regionally by CFATF, is most likely to be referred to the international body, the Paris-based Financial Action Task Force.
CFATF blacklisted Guyana regionally last November, at its 38th plenary meeting, issuing a missive which called for its members to “consider implementing counter measures to their financial systems from the ongoing money laundering and terrorist financing risks” emanating from Guyana.
“From all indications it does not look optimistic and Guyana’s referral to FATF by CFATF appears to be a virtual certain,” Nandlall said, in a prior interview.
The AG stated that 90 per cent of the deficiencies in the local Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework, which were identified by CFATF are legislative in nature.
While Government contends that these deficiencies were wholly addressed in the AML/CFT Amendment Bill, it has still not received the support of the combined Opposition, A Partnership for National Unity (APNU) and the Alliance For Change (AFC), both of whom have attached conditions in exchange for their support.
APNU has proposed three amendments that proffer a change to the entire governing apparatus of the Financial Intelligence Unit (FIU); removal of the Attorney General wherever that name appears and replacement of it with the FIU and vesting a Police or Customs Officer with the power to seize currency from any person, anywhere in Guyana, if those officers have reason to believe that it is the proceeds of crime or will be used to fund criminal activities. The party is also calling for President Donald Ramotar to assent to Bills passed in the National Assembly, through the Opposition’s one-seat majority, but the Head of State has explained that they are unconstitutional.
The AFC, which has expressed support for APNU’s position, is demanding the establishment of the PPC (Public Procurement Commission), which Government has agreed to, providing that Cabinet retains its no-objection role in the process; but the latter position has been rejected by the AFC.
With neither of the two Parliamentary Opposition parties budging on their positions, the Attorney-General, on behalf of the Government, earlier this month forwarded counter-proposals in the interest of ensuring that the amendments made are CFATF compliant and to move towards a compromise.
These counter-proposals are being considered by the Parliamentary Select Committee, which has been reviewing the AML/CFT Bill for more than 12 months and held its most recent meeting last Thursday, May 22.
If the Committee were to complete its work before the next scheduled sitting of the National Assembly, June 19, the Financial Action Task Force’s next Plenary meeting is slated for June 23 to 25, 2014 in Paris, France.

(By Vanessa Narine)