Attorney General (AG) and Minister of Legal Affairs Mr. Anil Nandlall, S.C, Tuesday, 25th April 2023 met with a visiting delegation from the Financial Intelligence Unit (FIU) of Trinidad and Tobago and the British Virgin Islands. The delegation comprised of Mr. Nigel Stoddard, Director of Acting Director of the FIU, Trinidad and Tobago and Mr. Errol George, Director of the Financial Investigation Agency, British Virgin Islands.
Accompanying the AG were Mr. Matthew Langevine, Director of the FIU Guyana, and Mr. Rommel St. Hill, Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Officer attached to the AG Chambers.
The visiting delegation is currently in Guyana conducting an on-site visit with regards to Guyana’s application to join the Egmont Group of FIU.
Subsequent to their visit, the delegation will provide a report to the Egmont Group in July 2023 in Dubai for consideration. If successful, this will enable Guyana to join the Egmont Group in early-2024.
If Guyana joins the institution, it will enhance its FIU institutional capability to access international platforms and to receive and be able to disseminate vital information and intelligence in relation to organised crime, terrorist financing, and other local and cross-border illicit activities.
The pre-2015 People’s Progressive Party (PPP) government had engaged in action that delayed the passage of the AML/CFT Bill. As a result of their action Guyana was placed on the Caribbean Financial Action Task Force (CFATF) and the Financial Action Task Force (FATF)’s watch lists.
From 2009 to 2014 the PPP government was flouting the regulatory institutions which brought Guyana into disrepute. The banking system was also required to do more when doing business with Guyanese that caused both business and private citizens to clamour for the government to meet the regulatory requirements.
In 2013 Guyana was placed on the CFATF’s monitoring list. In 2014, CFATF’s Financial Advisor Roger Hernandes made a special trip to Guyana and told the PPP government Guyana was likely to remain blacklisted for a minimum of two years and removal would have been contingent upon the implementation of AML/CFT laws.
In 2016 the Partnership of National Unity and Alliance for Change (APNU+AFC) coalition government, which had the parliamentary majority, passed the AML/CFT (Amendment) Bill. The Bill was assented to by President David Granger.
The FIU delegation met with the Finance Secretary, the Special Organised Crime Unit (SOCU), the Customs Anti Narcotic Unit (CANU), the Director of Public Prosecutions (DPP), representatives from the Bank of Guyana, Guyana Securities Council and the Guyana Revenue Authority (GRA). They are also scheduled to meet with reporting entities including the commercial banks and the Guyana Immigration Service.
