THE People’s Progressive Party/Civic (PPP/C) is calling on the new government to ensure that Guyana enacts as early as possible the amended Anti-Money Laundering and Countering the Financing of Terrorism legislation, lest the country be exposed to greater international pressure.

PPP/C executive member and former Attorney-General Anil Nandlall at a press conference yesterday at Freedom House, said he hopes his successor, Mr Basil Williams, is attending relevant meetings of the Caribbean Financial Action Task Force (CFATF), where Guyana has to update the regional body on the progress made in amending the legislation.
“I hope that the Attorney-General is attending those meetings, because at those meetings, he is supposed to update the CFATF on where we are currently, in terms of complying with a regime of obligations and courses of action to which we have committed ourselves as a country. Included among them is the enactment of a new amended bill, bringing Guyana up to speed with where the rest of the world is,” Nandlall explained.
The CFATF issued a public statement in May 2013 recommending that Guyana take steps to ensure that it address its AML/CFT deficiencies. In November 2013, CFATF issued a further public statement calling upon its members to consider implementing counter measures to protect their financial systems from the ongoing money laundering and terrorist financing risks emanating from Guyana.
The former AG noted the “lack of information” from the AG’s Chambers as it relates to Guyana amending its AML/CFT legislation. He further noted that more information will have to be added to the Bill if Guyana takes longer to pass the Bill in the National Assembly.
Nandlall stressed that the“longer we take to pass this Bill, it is more we will have to add to the Bill, because it is an evolving process. Everyday new information emanate from these international agencies, that countries are expected to incorporate and implement within its legal and financial structure. So the longer that we take to do so the more onerous the responsibility becomes.”
Responding to the question of whether the PPP/C’s presence in Parliament will affect the passing of the AML/CFT Bill, he responded noting that he does not believe the PPP/C’s absence or presence will jeopardise Guyana’s ability to comply with its obligations.
“We only have 32 seats, so even if we go there and vote against the Bill, our absence there cannot be construed as a basis for exposing Guyana to the perils to which it has been exposed, or continues to be exposed,” he asserted.
The amended AML/CFT Bill was presented before the10th Parliament, but remained in a parliamentary Special Select Committee where the government and opposition, which latter held a majority in the House, could not reach a consensus on the changes that should be effected.