Pivotal anti-money laundering law passed

Basil Williams

A three-year tussle over anti-money laundering legislation came closer to conclusion yesterday with the new APNU+AFC government passing its first bill in the 11th Parliament.

The bill will now be forwarded for the assent of President David Granger and then the global watchdog Financial Action Task Force (FATF) will have to rule on whether it complies with its best-practices model.

The much contested Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) (Amendment) Bill had been under discussion since 2012 and a PPP/C version of it tabled in 2013 failed to win approval as the opposition-controlled majority in the