The Earth is under threat from so many areas that it is difficult for me to be positive. The threats are too big and too numerous. Our physical resources are being drained, at an alarming rate. We have given our planet the disastrous gift of climate change. Rising temperatures, reduction of the polar ice caps, deforestation, and decimation of animal species. We can be an ignorant, unthinking lot.
World-renowned physicist, Stephen Hawking
In his address to the conference of the Institute of Chartered Accountants of the Caribbean, the Minister of Finance disclosed that Guyana’s first anti-money risk assessment has found the accountancy profession wanting in terms of assisting in the country’s anti-money laundering efforts. He referred to banks in the developed countries severing or reducing correspondent banking relationships in jurisdictions where money laundering risks are high, and called on the accountants to conduct appropriate due diligence of their clients. The New Zealand Government is in the process of amending its anti-money laundering legislation to make it a mandatory requirement for not only accountants but also lawyers, real estate agents, conveyances, the New Zealand Racing Board, and some high-value dealers, to report suspicious transactions to the relevant authorities. There is also a proposal to establish a Department of Internal Affairs as the supervisor for this purpose. This column believes that the time is ripe for Guyana to follow suit. We have noted the Attorney
