During the past week or so, various stakeholders expressed concerns publicly about the delay by the National Assembly to agree on the amendments to the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act 2009 to bring it in line with international standards and to avoid sanctions being imposed. They urged the political parties to set aside their differences and in the spirit of goodwill agree on a compromise. The diplomatic community in Guyana, CARICOM and the Organisation of American States joined in the call. Despite this, the Parliamentary Select Committee for a third time failed to reach agreement on the amendments.
Background to the amendment Bill
Guyana became a member of the Caribbean Financial Action Task Force (CFATF) in 2002. CFATF’s first evaluation report issued in October 2006 highlighted the absence of legislation on money laundering. In response, the Government tabled draft legislation in the National Assembly
