Attorney General Anil Nandlall expressed confidence in Guyana’s performance during the on-site assessment conducted by the Caribbean Financial Action Task Force (CFATF). The assessment focuses on Guyana’s fiscal policies regarding the prevention of money laundering and countering the financing of terrorism. This evaluation marks the fourth round of assessments, spanning over two years.
During the on-site evaluation, various ministries, financial and compliance institutions, disciplined services, as well as real estate and accounting institutions, will be interviewed. In their initial meeting, the CFATF assessment team conveyed satisfaction with the substantial efforts Guyana has invested in strengthening its Anti-Money Laundering and Countering the Financing of Terrorism (AML-CFT) policies.
The assessment is an integral component of Guyana’s international compliance obligations under the Financial Action Task Force’s (FATF) Standards and Methodology. In preparation for this evaluation, the government recently passed significant legislation, including an updated Anti-Money Laundering and Countering the Financing of Terrorism Amendment Bill, the Compliance Commission Bill, and the Real Estate Agents and Brokers Bill. Additionally, Guyana has entered into Memorandums of Understanding (MOUs) to enhance information sharing and cooperation concerning AML-CFT policies.
Following the assessment, the CFATF team will compile and present a report at the CFATF Plenary in March of the subsequent year. This comprehensive evaluation and the government’s proactive measures underscore Guyana’s commitment to international standards in combatting money laundering and terrorism financing.