Cambios now require ID for transactions over $20,000

In keeping with anti-money laundering laws, cambios now require the name, address and a form of identification from persons changing foreign currency.

In a notice appearing in today’s Stabroek News, licensed cambios said that with effect from tomorrow all customers visiting any licensed cambio dealer in Guyana to exchange any foreign currency to the equivalent of $20,000 and above will be required to provide their name, address and present either their passport or identification card.

The cambios noted that this is in keeping with the Anti-Money Laundering and Countering the Finance of Terrorism Act Mo. 13 of 2009.

The signatories to the notice are: Mohamed’s Enterprise – Confidential Cambio, A&N Sarjoo Cambio, L Mohabeer & Sons Cambio, Sookraj Cambio, Gobind Cambio, Martina’s Cambio, F&F Foreign Exchange Cambio, Mohamed’s Cambio – Chester Fry, Cambio Royal, Salt and Pepper Cambio, Commerce House Cambio and Hand in Hand Cambio.

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