Guyana on track for upcoming CFATF evaluation – AG’s Chambers
Guyana’s delegation to a recently concluded the 55th Plenary and Working Group meetings of the Caribbean Financial Action Task Force (CFATF) in the Cayman Islands, is optimistic that the country is on track in its preparation for its upcoming mutual evaluation.
In a release, Attorney General’s Chambers said Attorney General Anil Nandlall led the delegation to the November 27 to December 1, 2022 Plenary and Meetings.
Guyana’s delegation also comprised Dr. Gobin Ganga, Governor of Bank of Guyana; Matthew Langevine, Director of the Financial Intelligence Unit (FIU); Alicia Williams, Head of Compliance – FIU; Karim Baksh, Head of the Special Organised Crime Unit (SOCU); Natasha Backer, Assistant Director of Public Prosecutions; and Rommel St Hill, AML/CFT Officer in the Attorney General’s Office.
“At this in-person Plenary, Guyana was able to strengthen its position to combat money laundering and terrorist financing (ML/TF) through a number of strategic alliances which occurred on the margins of the Plenary meeting,” the release explained.
The release said Guyana’s participation in the plenary is in line with the government’s commitment to fight financial crime and money-laundering on all fronts. It said it is also aligned with our recent acceptance as a member of the Regional Security
Services (RSS). According to the release, Guyana also attended the Annual General Meeting (AGM) of the Asset Recovery InterAgency Network of the Caribbean (ARIN-CARIB), which is the operation arm of the RSS, focused on informal cooperation of the law enforcement agencies to facilitate exchange of intelligence in the recovery of assets accumulated from the proceeds of crime. The AGM was also held in the Cayman Islands prior to the CFATF’s 55th Plenary and Guyana was invited to become a member of the ARIN-CARIB Steering Group. The Steering Group is comprised of eight members of the network and is responsible for administration of the Group.
Delegations benefitted from presentations from regional and international bodies including the International Monetary Fund (IMF), the United Nations Office on Drugs and Crime (UNODC), and the United States Department of Treasury- Office of Terrorism Financing and Financial Crimes (OTFFC). This is in addition to extensive discussions on the mutual evaluation reports of Suriname and Venezuela.
Meanwhile, the release noted that on the margins of the Plenary, the FIU signed six (6) Memoranda of Understanding (MOUs) with FIUs from Bermuda, Bahamas, Haiti, Saint Vincent and the Grenadines, the Turks and Caicos Islands and the
British Virgin Islands to assist in supporting intelligence gathering and analysis related to money laundering investigations.
The Attorney General’s Chambers was also able to initiate additional training for Guyana to further prepare for the September 2023 Mutual Evaluation, with a virtual 4th Round FATF Standards Training slated to occur in early January 2023.
The Bank of Guyana also held discussions with the CFATF on the margins of the Plenary, with regard to sector specific training for its staff in preparation for the upcoming Mutual Evaluation, whilst SOCU was able to meet with other regional law enforcement agencies to create strategic alliances with regard to combatting cross border related issues of ML/TF.
The release also said Guyana received an update on its application for Egmont membership, having recently passed further necessary amendments to the Anti Money Laundering/Countering the Financing of Terrorism legislation.
It noted that Guyana is now a step closer to acquiring membership in the Egmont Group of Financial Intelligence Units, with its application expected to be presented to the Egmont Group’s Membership, Support and Compliance Working Group on the Margins of the next Egmont Plenary scheduled for early 2023.
According to its website, The Egmont Group is a united body of 166 Financial Intelligence Units (FIUs), which it provides with a platform to securely exchange expertise and financial intelligence to combat money laundering, terrorist financing (ML/TF), and associated predicate offences.
The Plenary also celebrated the 30th anniversary of the existence of the CFATF, which was founded by way of the Kingston Declaration in 1992.
The release noted that the Plenary, which was attended by hundreds from the CFATF membership as well as FATF and other international organisations, was the first in-person meeting of the CFATF Member countries since the COVID-19 pandemic.