US report lists Guyana as ‘major’ money laundering state

-points to weaknesses in AML fight

Guyana is among 14 Caricom countries listed as “major money laundering” nations in the March 2017 International Narcotics Control Strategy Report (INCSR), despite the implementation of a legislative framework, and according to Minister of Finance Winston Jordan this now adds to the country’s misery.

The report, which was compiled by the US Department of State and released recently, said that ill-equipped investigative agencies and the lack of cooperation from the business community are hampering Guyana’s ability to successfully tackle this issue. Canada and the UK were also listed as major laundering nations

The report focuses on two areas – Drug and Chemical Control (Volume 1) and Money Laundering and Financial Crimes (Volume 11) – and a report on Guyana was included in both.…to continue reading this article, please subscribe.  Already a subscriber ? Sign In

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