Guyana has until October to pass AML Bill; Luncheon says “we must pray”

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By Fareeza Haniff

Cabinet Secretary Dr. Roger Luncheon
Cabinet Secretary Dr. Roger Luncheon

[www.inewsguyana.com] – The Financial Action Task Force [FATF] has given Guyana until October to get its act together and amend its Anti Money Laundering and Countering the Financing of Terrorism Bill.

However, the government and the combined Parliamentary Opposition is yet to reach a compromise which will see the successful passing of the Bill in the National Assembly.

When questioned about this, Head of the Presidential Secretariat, Dr Roger Luncheon said, “Pray.”

He told reporters at a news conference that the two sides have four months to get the Bill passed in the House and that government will be focusing on this in the coming months.

In the meantime, the government is also focusing on implementing non legislative recommendations by FATF. Dr Luncheon explained that this has seen heightened investigation and prosecution of money laundering offences.

In this regard, the headquarters for the newly formed Special Organised Crime Unit (SOCU) will be based on Camp Street, the Cabinet Secretary said.

 

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