CFATF ups warnings over failure to pass anti-laundering bill

Ashni Singh

The Caribbean Financial Action Task Force (CFATF) has urged countries in the region to step up countermeasures to protect themselves from financial risks emanating from Guyana as a result of the country’s failure to rectify deficiencies in its anti-money laundering legislation.

The announcement, including the country’s referral to the international Financial Action Task Force (FATF), was made yesterday in a statement released after CFATF’s XXXIX Plenary in Miami, Florida, and both the government and opposition continued to trade blame for the situation.

Finance Minister Ashni Singh yesterday said that CFATF’s decision is a direct result of the opposition’s refusal to cooperate towards passing the anti-laundering amendment bill, which has