THE opposition People’s Progressive Party (PPP) said it will not support any swift passage of amendments to the country’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act 2015 and has signalled to government that it will object to this at the scheduled May 4 sitting of the House. Opposition Chief Whip and PPP Parliamentarian, Gail Teixeira told a news conference Wednesday that government Chief Whip Amna Ally had contacted her, requesting that the PPP support the amendments through the three stages at the scheduled May 4 sitting. However, Teixeira made it clear that the PPP will do no such thing, claiming that the opposition have not had a chance to see the amendments.

“Our answer was a resounding ‘No’; we would not support Bills going through all three stages in one sitting. No one is aware of what these amendments are; we don’t know what these amendments are to the Money-Laundering Bill and therefore we would not be accepting this [sic] fresh amendments coming through on one day,” Teixeira said.
She believes that such amendments should go to a Parliamentary Select Committee. “Furthermore, when I asked the Chief Whip what was the rush, I was advised that they were rushing to prepare for the [Financial Action Task Force – FATF]. I asked when was the FATF meeting and when was the deadline; the Chief Whip of the government side could not enlighten me.”
The PPP Parliamentarian is of the view that Guyana is slipping on its commitments to FATF, as there is currently no Director or Deputy Director of the Financial Intelligence Unit (FIU) or an Anti-Money Laundering and Countering the Financing of Terrorism Authority in place.
“The FIU is headless and therefore many aspects of the AML/CFT Act cannot be put into operation and if it is, it would be in violation of the law,” the PPP Chief Whip said. It was however noted that the Parliamentary Committee of Appointment is addressing the applications for the FIU, including Deputy Director, Accountant and Lawyer as provided for in the amended Anti-Money Laundering Act 2015.
Last month, Financial Intelligence Unit (FIU) Director (ag) Alicia Williams said that with significant progress already made with respect to addressing the deficiencies in the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regime here, Guyana could see itself being removed from the “Light Grey List” by February, 2017. Williams had made this disclosure during a consultative meeting held by the Attorney General and Legal Affairs Minister, Basil Williams on the draft Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill 2016. The Chief Parliamentary Counsel, Cecil Dhurjon; Deputy Chief Parliamentary Counsel Charles Fung-A-Fat; State Counsel Joann Bond; President of the Guyana Bar Association, Christopher Ram; Chairman of the Private Sector Commission (PSC), Norman McLean; Executive member of the Private Sector Commission, Captain Gerry Gouveia, and Crime Chief Wendell Blanhum were among those present during the consultative forum on Wednesday at the Legal Affairs Ministry.
The FIU Director (ag) said addressing the outstanding recommendation is critical for Guyana to be removed from the “Light Grey List” it is currently featured on. In less than a year, the country has moved from being on a “Dark Grey List” to a “Light Grey List,” but she made it clear that unless Guyana addresses all of the issues outlined in an Action Plan, to which it has committed, the country will be stuck on the list. It was explained that if the AML/CFT 2016 Bill is passed in the National Assembly, presented to the Plenary in June, and gains the approval of the international financial watchdogs, the Attorney General could request for Guyana to start the process of “exiting.”
According to her, if all goes well, Guyana could be off the list by February, 2017, but a FATF team would first have to visit the country to conduct an assessment before approval is fully granted. The draft Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill 2016, is in keeping with the outstanding recommendation made by the FATF, which among other things, seeks to ensure that the assets and funds of terrorists or terrorist organisations are immediately frozen by the court.
Under Recommendation Six: Targeted Financial Sanctions Related to Terrorism and Terrorist Financing, FATF instructed Guyana to “provide for a legal framework and mechanism to freeze terrorist assets without delay in accordance with United Nations Security Council (UNSCR) 1267 and its successor resolutions. It was also recommended under this section that clear procedures be established with regard to freezing of assets and ongoing prohibitions under UNSCR 1267 and 1373, including delisting requests, guidance to financial institutions, and gaining access to frozen funds for necessary expenses.

As such, the draft AML/CFT Bill seeks to amend key sections of the Principal Act such as Section 68A, which addresses UNSCR 1267 and 1373. After painstakingly trying to correctly word, Section 68A 2 and 3, the parties involved arrived at the conclusion that changes to the drafted bill must be done in a holistic manner and not in a piecemeal manner. As such, the Attorney General said it is important for consultations to be continuously held until the objective is met.
The Attorney General had said that given the increase in terrorism-related activities, there will be a greater demand for countries such as Guyana to be in compliance with standards set out by the FATF and the Caribbean Financial Action Task Force (CFATF). Williams also told the forum that before he became the Minister of Legal Affairs, Guyana was on a “dark-grey” list and with the new government’s commitment to comply with all the requirements of the Caribbean Financial Action Task Force (CFATF) and Financial Action Task Force (FATF), Guyana has moved onto a “light-grey” list. Currently, Guyana has an Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act in place, along with other connected legislation governing supervisory bodies, financial institutions, law enforcement and foreign affairs. The National Assembly in 2015 had also passed the Anti-Terrorism and Terrorist Related Activities Bill, the AML/CFT (Amendment) Bill No. 1 and 2, and the AML/CFT Regulations.