Anti-money laundering specialist Toussant Boyce says stakeholders should be hesitant to describe the posture taken by CFATF to Guyana as a blacklisting and should stick to the language the body used in outlining its position.
On Thursday, the Caribbean Financial Action Task Force (CFATF), after assessing Guyana during its 38th Plenary in The Bahamas, decided that the country is insufficiently compliant with prescribed anti- money laundering and terrorism financing requirements and therefore called on its member countries to consider taking measures to protect themselves from risks emanating from Guyana. CFATF has also decided to give Guyana until next May to correct the existing deficiencies in its financial architecture by May 2014 or be referred to the global body,
