The Private Sector Commission (PSC) today said that it is alarmed to learn that the State Assets Recovery Unit (SARU) is involved in a money laundering investigation of a major financial institution as per a headline in the Kaieteur News of Wednesday January 6, 2016.
In a statement, the PSC said that it is its understanding that the mandate of the Unit is to probe and recover assets belonging to the state.
“We are also aware that this unit is operating outside of any known laws in Guyana.
“The PSC is only aware of the role of the Financial Intelligence Unit, the Special Organised Crime Unit and the Bank of Guyana in anti-money laundering investigations. The PSC is calling for a clarification on why SARU is involved in such (an) investigation and not SOCU or the FIU”, it said.
The PSC said that this development will have a significant negative impact on foreign and local investors’ confidence.
