The Financial Intelligence Unit (FIU) yesterday announced that it has spearheaded the completion of the country’s first money laundering and terrorist financing National Risk Assessment and the development of a Risk Based Assessment Action Plan.
These two documents will soon be handed over to government, according to an FIU status report, which was issued by the Ministry of Finance late last evening.
It stated that the FIU, despite its constraints, has made significant progress, which includes the appointment of supervisory authorities for most of the reporting entities in various financial sectors.
Providing an update on the unit’s implementation of a strong regulatory and supervisory framework to ensure Guyana succeeds at its Fourth Round Mutual Evaluation by the Caribbean Financial Action Task Force (CFATF), the report said the unit has taken the lead in the completion of the national risk assessment and the development of the risk-based action plan, which are intended to guide the national anti-laundering strategy.
