Guyana officially blacklisted by CFATF

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[www.inewsguyana.com] – Guyana has been officially blacklisted by the Caribbean Financial Action Task Force (CFATF) as a result of the non – enactment of the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill.

This was confirmed by Attorney General Anil Nandlall, who represented Guyana at the CFATF meeting in The Bahamas. In May, Guyana was granted a six month extension to get its house in order and to pass the amended legislation.

However, when the time came for the Bill to be amended, the combined political opposition – A Partnership for National Unity (APNU) and the Alliance for Change (AFC) voted down the amended piece of legislation in the National Assembly.

Now that Guyana has been blacklisted, financial transactions will come under severe scrutiny, as measures will be taken against banks and other financing outlets.

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