Former Attorney General Anil Nandlall says that while the Bank of Guyana assures that it is working to ease the public’s banking frustrations over anti-laundering laws, the red tape could continue for years as government still has not put required systems in place and financial institutions could be subject to penalties.
“The truth of the matter is that we are still behind and therefore, perhaps still subject to a regime of sanctions for not being fully compliant under the international AML/CFT regime,” Nandlall told Stabroek News.
“The problem is that we are not getting the truth from the Government. So, these problems that the ordinary citizenry are encountering when dealing with the banks may continue for another few years,” he added.
