THE Government of Guyana should be lauded for moving in favour of the Anti-Money Laundering Bill and Countering of Terrorism Act in its attempt to combat money laundering and terrorist financing.

The government has been under severe scrutiny over this comprehensive piece of legislation especially by the opposition, which has constantly accused the administration of corruption.

Provisions of the Act follow that a person who, knowingly or having reasonable grounds to believe that property (money, investments, holdings, possessions, assets and all other property movable or immovable) is the proceeds of crime, and engages to conceal or disguise the illicit origin of that property will be guilty of money laundering.

Upon passage and implementation, this legislation will expose exactly those persons who thrive on ill-gotten money and whose survival is solely dependent on Terrorist financing, which has been defined as willfully providing or collecting funds with the unlawful intention that they should be used to aid the execution of terrorist acts or in support of terrorist organisations or individuals.

I urge the Financial Intelligence Unit (FIU), which will be charged with requesting, receiving, analysing and disseminating of suspicious transaction reports and other information to execute their duties without fear or favour, so that society could be rid of these malpractices. Let’s all extend support in recognition of yet another quantum leap in fighting crime and securing a country free from corruption.
D. DYALSINGH