-reaffirms govt’s continued commitment to combat money laundering and financing of terrorism

SENIOR Minister in the Office of the President with Responsibility for Finance, Dr. Ashni Singh, on Monday tabled the Financial Intelligence Unit (FIU) 2024 Annual Report in the National Assembly, outlining Guyana’s sweeping progress in combatting money laundering, terrorist financing, and related financial crimes.
The report underscores the government’s intensified efforts under the Anti-Money Laundering and Countering the Financing of Terrorism (AMLCFT) framework, reflecting the administration’s ongoing commitment to modernising and safeguarding the nation’s financial system.
Dr Singh highlighted that since 2020, under the leadership of President, Dr Mohamed Irfaan Ali, Guyana has undergone a period of remarkable transformation — becoming the world’s fastest-growing economy, while simultaneously reinforcing its regulatory defences against financial threats.
“In 2024, we enacted for the first time a modern central bank legislation, a new Financial Institutions Act, an Insurance Act, and a Securities Industry Act,” the minister said. “Together, these provide a strong legal foundation for oversight, transparency and prudential regulation of our financial system.”
He added that a new Anti-Money Laundering and Countering the Financing of Terrorism Act will soon follow, completing a comprehensive suite of reforms to ensure Guyana’s compliance with global standards.
KEY ACHIEVEMENTS IN 2024
The FIU’s report notes several landmark achievements in Guyana’s financial governance, including: Amendments to the AMLCFT Act in 2022 and 2023 to align with international requirements; creation of the Guyana Compliance Commission and the Real Estate Authority, extending regulatory coverage to previously unmonitored sectors; Increased funding and capacity for key agencies such as the FIU and SOCU, supporting advanced training, staffing, and technology upgrades; full membership in the Egmont Group of FIUs in February 2024, enabling Guyana to share financial intelligence directly with counterparts in over 170 countries; a favourable Fourth Round Mutual Evaluation by the Caribbean Financial Action Task Force (CFATF), which commended Guyana’s strong AMLCFT framework and winning the 2024 CFATF Best Regional AMLCFT Case Award (BREMOLT) for excellence in financial crime investigation and prosecution.
Dr Singh emphasised that these accomplishments place Guyana among the top-performing countries in the region in the fight against illicit finance, ensuring greater transparency, accountability and security across its financial system.
In a related context, President Ali has reaffirmed Guyana’s stance as a responsible member of the international community, dedicated to protecting the region from transnational crime and instability. Speaking at the Guyana Defence Force’s Commissioning Parade earlier this year, the Head of State pledged to defend the country “with vigilance and resolve,” using technology to enhance national security across all domains — land, sea, air, and cyberspace.
Continuing the Fight Against Corruption
Looking ahead, the government’s 2025 manifesto reiterates its zero-tolerance stance on corruption. Plans include: strengthening anti-corruption laws and enforcement units; using blockchain technology to promote transparency and efficiency; reducing bureaucracy across government systems and fully implementing the Access to Information Act to enhance public accountability.
The FIU’s 2024 report reaffirms that Guyana’s path to economic modernisation is underpinned by strong institutions, sound legislation, and unwavering commitment to integrity and security in its financial system.