The Guyana Bank for Trade and Industry (GBTI) yesterday lost an appeal it had filed before the Full Court of the High Court challenging an order directing it to produce specific records of transaction requested by the Special Organised Crime Unit (SOCU) as part of a money laundering investigation.
In the ruling of Justices Nareshwar Harnanan and Fidela Corbin-Lincoln, who heard the appeal, the court declared that Section 24 of the Anti-Money Laundering and Countering the Financing of Terrorism Act does not prohibit the production of copies of banker’s books as the bank sought to contend.
To this end, the court has ordered the bank to comply with the earlier ruling of Justice Franklin Holder who it said acted in compliance with the Anti-Money Laundering and Countering the Financing of Terrorism Act.
