AML/CFT, Compliance Commission Bills open for public input

Guyana’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework will be undergoing its fourth round of mutual evaluation in September by the Caribbean Financial Action Task Force (CFATF).
In preparation for that exercise, the Government will be tabling in the National Assembly, the Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Bill 2023 and the Guyana Compliance Commission Bill 2023.
This will be done to implement outstanding recommendations of the CFATF and the Financial Action Task Force (FATF), as well as correct deficiencies identified and overall strengthen Guyana’s AML/CFT framework.
In keeping with the Government’s policy of publicly consulting with important stakeholders and the citizenry on significant pieces of legislation, the Attorney General’s Chambers, on Monday, said that recommendations and other constructive inputs are hereby invited in writing in respect of the said two Bills within 14 days to be submitted to [email protected].
These Bills can be accessed on the Attorney General’s Chambers and Ministry of Legal Affairs website www.mola.gov.gy.
Last November, the Attorney General’s Chambers reported that Guyana had completed its second AML/CFT National Risk Assessment Report (NRA), with the Government intending to implement additional amendments to the AML/CFT. The Government is looking to make approximately 30 amendments to the AML/CFT and also to insert new sections.