THE Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill (AMLCFT) must be passed to prevent Guyana from being blacklisted, Attorney General (AG) and Minister of Legal Affairs Basil Williams told the media yesterday, as he met for the first time with Head of the Financial Intelligence Unit (FIU) Paul Geer, to deal with the Bill.Also attending the meeting at the Legal Affairs Ministry were FIU Legal Advisor, Alicia Williams, and a member of the unit, Sasha Mahadeo.
AG Williams noted that when the present ruling administration was in the Opposition, members had indicated inserts to the mother act, which would have made the FIU independent. He noted that the Bill which they had then would be the focal thrust with which they would move on.
The AMLCFT amendment Bill was tabled on April 22, 2013, in the National Assembly by the People’s Progressive Party/Civic Administration, and put up for debate on May 7. On that date, the then Opposition moved (by a majority vote) to send it to the Special Select Committee.
Guyana was granted until September 2015 to implement the legislative measures and until May 2015 to implement the non-legislative measures. This recommendation was accepted at the Financial Action Task Force (FATF) meeting in Paris on November 24, 2014. (GINA)