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THE Guyana Government has welcomed the support of developed world partners and important international institutions in strengthening efforts to promote anti-money laundering and countering the financing of terrorism initiatives, but also called on the political opposition to support legislation in this respect. Roger Hernande of the Caribbean Financial Action Task Force (CFATF) and Eamon Kearney from the Caribbean Criminal Asset Recovery Programme (CCARP) are in Guyana facilitating a financial crimes stakeholders’ meeting at Grand Coastal Inn, co-sponsored by the diplomatic missions of the United States, Britain and the United Kingdom and the European Union (EU).
The goal is to establish and/or strengthen an effective anti-money laundering and countering financing of terrorism that US Ambassador Brent Hardt said is a pre-requisite for political stability, democracy and transparent commercial trade systems.
It is an ongoing process that has seen expertise and knowledge-sharing being extended to over 100 countries with the aim of building capacities in jurisdictions where such capacities are lacking, and strengthening compliance in keeping global benchmarks for justice administration to money launderers and financiers of terrorist acts.
“Our purpose for organising (yesterday’s) workshop is to support Guyana’s ongoing efforts to strengthen anti-money laundering and financial crimes capacity,” Ambassador Hardt said.
The Anti-Money and Countering the Financing of Terrorism legislation was fine-tuned at the level of the Cabinet on Tuesday, and will be taken to Parliament soon, President Ramotar said.
His only hope however, is for the legislation to win the approval of Parliament where the opposition has a one-seat majority and a motive to reject anything that they are not convinced, has been justifiably resolved.
The legislation that was crafted following consultations with key stakeholders and has won the support of the international community came out of an abiding concern to meet international obligations in the fight against narco-trafficking, financial crimes and terrorism, President Ramotar said.
The objective, he added, was also premised on the need to support the “moral life of the Guyanese society and setting the record straight on money laundering rumours in Guyana.
CFATF’s role is to help promote national policy to combat the global scourge and has proposed recommendations to prevent terrorist threats from compromising financial institutions in Caribbean nations.
CCARP, a UK programme, is actively involved in efforts to boost capacity to support crime investigations, help develop plans for legislative amendments and compliance requirements.
The Canadian Government will be supporting Guyana’s financial intelligence unit under its Deployment for Democratic Development Programme by sending an expert in anti-money laundering regulations, focusing on high-risk sectors in Guyana. (GINA)
The goal is to establish and/or strengthen an effective anti-money laundering and countering financing of terrorism that US Ambassador Brent Hardt said is a pre-requisite for political stability, democracy and transparent commercial trade systems.
It is an ongoing process that has seen expertise and knowledge-sharing being extended to over 100 countries with the aim of building capacities in jurisdictions where such capacities are lacking, and strengthening compliance in keeping global benchmarks for justice administration to money launderers and financiers of terrorist acts.
“Our purpose for organising (yesterday’s) workshop is to support Guyana’s ongoing efforts to strengthen anti-money laundering and financial crimes capacity,” Ambassador Hardt said.
The Anti-Money and Countering the Financing of Terrorism legislation was fine-tuned at the level of the Cabinet on Tuesday, and will be taken to Parliament soon, President Ramotar said.
His only hope however, is for the legislation to win the approval of Parliament where the opposition has a one-seat majority and a motive to reject anything that they are not convinced, has been justifiably resolved.
The legislation that was crafted following consultations with key stakeholders and has won the support of the international community came out of an abiding concern to meet international obligations in the fight against narco-trafficking, financial crimes and terrorism, President Ramotar said.
The objective, he added, was also premised on the need to support the “moral life of the Guyanese society and setting the record straight on money laundering rumours in Guyana.
CFATF’s role is to help promote national policy to combat the global scourge and has proposed recommendations to prevent terrorist threats from compromising financial institutions in Caribbean nations.
CCARP, a UK programme, is actively involved in efforts to boost capacity to support crime investigations, help develop plans for legislative amendments and compliance requirements.
The Canadian Government will be supporting Guyana’s financial intelligence unit under its Deployment for Democratic Development Programme by sending an expert in anti-money laundering regulations, focusing on high-risk sectors in Guyana. (GINA)
