UNASUR supports gov’t efforts to pass anti-money laundering bill

The Union of South American Nations (UNASUR) has expressed support for the Government of Guyana in its efforts to pass anti-money laundering legislation and endorsed the strengthening of the institutional structures of Guyana for the prevention and fight against those crimes.

“The Member States of UNASUR reiterate their commitment to the prevention and fight against money laundering and the financing of terrorism and in this regard support the Government of Guyana in its efforts to approve legislation on this issue,” the regional grouping said in a statement released by the Ministry of Foreign Affairs last evening.

The Caribbean Financial Action Task Force (CFATF) last week called for countries in the region to step up countermeasures against Guyana over its failure to update its anti-money laundering legislation.

The regional body also referred Guyana to the international Financial Action Task Force (FATF). Despite this, neither government nor the opposition parties have signalled a shift towards compromise for the passage of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) (Amendment) Bill. FATF is slated to hold its next Plenary in Paris, France from June 23 to 27.

The statement last evening said UNASUR member states highlighted that the strengthening of the institutional structures of Guyana for the prevention and fight against those crimes would be in conformity with the recommendations of FATF and CFATF and of the regional organ of South America, GAFISUD.

They reiterated their commitment to cooperate within the framework of the South American Council on Citizen Security, Justice and Coordination of Action Against Transnational Organised Crime (CDOT), which includes initiatives on the prevention and fight against money laundering and financing of terrorism, the statement said.

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