CFATF head fails to move opposition on anti-laundering bill

-APNU floats Caricom mediation to break impasse

A team from the Caribbean Financial Action Task Force (CFATF) yesterday warned of harsh consequences should Guyana fail to pass anti-money laundering legislation before a May 29 conference but failed to sway the opposition, which maintained that the “crisis” requires a political solution.

The team led by Chairperson of the CFATF Allyson Maynard-Gibson and which included Executive Director of the CFATF Calvin Wilson, met with government, opposition parties APNU and AFC as well as the Private Sector Commission yesterday. Secretary-General of the Caribbean Community (CARICOM) Irwin LaRocque also accompanied the team to the meetings.

Both government and the opposition yesterday reported that the CFATF team warned of harsh consequences should Guyana failed to pass the long-stalled Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) (Amendment) Bill. The CFATF team declined to speak to reporters when approached yesterday.

Attorney-General Anil Nandlall told the Government Information Agency (GINA) that Maynard-Gibson indicated that Guyana is the only country yet to implement all of the body’s recommendations. “She made it very clear that the consequences are going to be devastating,” Nandlall was quoted as saying.  …..To continue reading, login or subscribe now.

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