–as CFATF Working Group on FATF Issues commences consideration of country’s Draft Mutual Evaluation Report

THE Caribbean Financial Action Task Force (CFATF) Working Group on FATF Issues (WGFI) on Tuesday commenced consideration of Guyana’s Draft Mutual Evaluation Report at the CFATF 58th Plenary and Working Group Meetings being held from June 2, 2024 to June 7, 2024 in Port of Spain, Trinidad and Tobago.
It will be recalled that this Report was compiled as part of the Mutual Evaluation Exercise of Guyana’s AML/CFT structure, which commenced during the year 2023 and included an on-site examination conducted in September 2023.

Depending upon the recommendations emanating from this Working Group, CFATF Plenary will adopt this draft report as the Fourth Round Mutual Evaluation Report of Guyana, subject to the confirmation of the Global Network.
Based on the preliminary report, Guyana anticipates favourable ratings in terms of its risk and coordination, the operations of its Financial Intelligence Unit (FIU), its supervisory framework, as well as its measures relating to terrorist financing and proliferation financing.
Guyana has committed to implementing the recommended improvements to the country’s anti-money laundering regime, as well as matters relating to confiscation, beneficial ownership, and administration of trusts.

On Friday, June 7, the CFATF Plenary will consider the recommendations from the Working Group.
Guyana’s delegation is being led by Mohabir Anil Nandlall, SC, MP, Attorney-General and Minister of Legal Affairs, and includes representatives from the Attorney-General’s Chambers and Ministry of Legal Affairs, the Bank of Guyana, the Financial Intelligence Unit (FIU), the Ministry of Natural Resources, the Guyana Geology and Mines Commission (GGMC), the Guyana Gold Board, the Special Organised Crime Unit (SOCU), the Guyana Securities Council, the Treaty Office of the Ministry of Home Affairs, the Guyana Revenue Authority (GRA) and the Office of the Director of Public Prosecutions (DPP).