Caricom on Tuesday expressed deep concern about any adverse impact on Guyana and the wider region over the failure to pass anti-money laundering legislation here as required by the Caribbean Financial Action Task Force (CFATF).
A meeting of the CFATF in The Bahamas last week invited its member countries to consider taking measures to insulate themselves from any risk through Guyana’s non-compliance with the required international standards on combating money-laundering and the financing of terrorism. This could potentially affect a series of cross-border financial transactions. CFATF took the measure after numerous warnings to Guyana that it needed to amend its anti-money laundering law. The government was unable to clinch opposition support for the amendments that the CFATF wanted.
On Tuesday, Caricom called for an early resolution of the issues preventing the
