Guyana among 1st in Caribbean to operationalise anti-money laundering sanctions agreement

Once again demonstrating regional leadership in the fight against money laundering, terrorist financing and proliferation financing, Guyana has become one of the first countries within the Caribbean Financial Action Task Force (CFATF) to sign and operationalise the landmark Multilateral Memorandum of Understanding (MOU) Among Targeted Financial Sanctions Competent Authorities Within the Caribbean Financial Action Task Force.
The MOU was signed on behalf of Guyana by Attorney General and Minister of Legal Affairs, Mohabir Anil Nandlall, S.C., in Port-of-Spain Trinidad and Tobago, where he led a Guyanese delegation for the CFATF’s 62nd Plenary and Working Group Meetings held from May 24 to 28.
In a statement on Thursday, the Attorney General Chambers said this MOU underscores Guyana’s continued commitment to strengthening its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework in accordance with international standards established by the Financial Action Task Force (FATF).
The agreement establishes a formal framework for cooperation and intelligence-sharing among competent authorities in relation to the implementation of Targeted Financial Sanctions (TFS) pursuant to FATF Recommendations 6 and 7.
According to the Chambers, the MOU is designed to facilitate the rapid and secure exchange of information concerning persons and entities being considered for designation in matters related to terrorism financing and proliferation financing.
Importantly, it noted, the MOU has now become operational following its execution by the requisite number of jurisdictions. In addition to Guyana, the MOU was also signed by several other Member States under CFATF jurisdiction with the expectation that others would follow shortly.
“The operationalisation of the MOU marks a significant milestone for the Caribbean region, as it strengthens the collective ability of participating jurisdictions to identify, assess, and disrupt threats associated with terrorist financing and proliferation financing through enhanced regional collaboration and information-sharing,” the AG Chambers explained.
Among its key objectives, the MOU seeks to: Facilitate timely and secure exchanges of intelligence and information among competent authorities; Support the identification and designation of persons and entities linked to terrorist financing and proliferation financing activities; Enhance regional cooperation in implementing targeted financial sanctions; Promote compliance with FATF Recommendations and international best practices; and Strengthen the overall integrity and resilience of the Caribbean financial system.

Confidentiality, secure communications
Moreover, it was noted that the agreement further provides mechanisms for confidentiality, secure communications, designated points of contact, and coordinated procedures for designation and information exchange among participating states.
According to the AG Chambers, “Guyana’s participation in this pioneering initiative reflects the Government’s unwavering commitment to maintaining robust AML/CFT safeguards and supporting regional and international efforts to combat transnational financial crime and threats to global security.”
Meanwhile, during the four-day plenary and working group meetings, Guyana engaged in discussions relating to its upcoming compliance obligations under the CFATF follow-up process.
Despite being given a clean bill of health at the conclusion of the country’s mutual evaluation exercise carried out by the CFATF in 2024, Guyana is scheduled to undergo a follow-up report process in November 2026 and is expected to be assessed for re-ratings in November 2027 as part of its continued efforts to demonstrate technical compliance and effectiveness under the FATF standards.
Earlier in the week, the Guyanese delegation participated in several technical working groups addressing mutual evaluations, compliance monitoring, typologies, operational cooperation, and technical assistance initiatives aimed at strengthening regional capacity to detect, investigate, prosecute, and deter financial crimes.
Later this year, Guyana is scheduled to host a number of crucial regional initiatives and activities as part of its continued commitment to strengthening regional cooperation and enhancing national and regional security architecture.

Rate of convictions
During the plenary discussions on Wednesday, Attorney General Nandlall had underscored the need for improvements in the rate of convictions and successful forfeiture of proceeds of crime, which he says are unfortunately low across the region.
He also emphasised the need for greater sensitisation of the judiciary in respect of the interpretation and application of the AML/CFT legislation. To this end, the AG called upon CFATF to urgently create an institutional relationship with the judiciary across the region that will result in training and continuous education on the intricacies of the AML/CFT statutory framework, as it is peculiar and oftentimes not properly appreciated.
Nandlall had noted that judicial interpretation in asset recovery and confiscation proceedings should take into account the FATF methodology, international standards, and the broader objectives underpinning the administration of justice in combating money laundering, terrorist financing, corruption, and organised crime. He further outlined that judicial appreciation of the policy rationale behind AML/CFT measures is essential to ensuring that confiscation and forfeiture regimes operate effectively and consistently with international obligations.
“Perhaps the time is ripe to invite nominees of the judiciary to attend plenary meetings, as this would give them first-hand insight into our international obligations and the recommendations which underlie the unique statutory provisions reflected in the legislation,” AG Nandlall stated.
Guyana’s delegation at the major CFATF event, comprised: Governor of the Bank of Guyana Dr Gobind Ganga, Director of the Financial Intelligence Unit (FIU), Matthew Langevine, Deputy Commissioner of Police and Head of the Special Organised Crime Unit (SOCU) Fazil Karimbaksh, AML/CFT Officer of the Attorney General’s Chambers and Ministry of Legal Affairs Rommel St Hill, Deputy Director of Public Prosecutions Diana O’Brien, Assistant Director of Public Prosecutions of the Office of the Director of Public Prosecutions Natasha Backer, Deputy Commissioner of the Guyana Geology and Mines Commission (GGMC) Jimmy Reece, Legal Officer at the Ministry of Natural Resources Visal Stram, Risk Officer II (AML/CFT) at the Guyana Revenue Authority Narefa Ghanie-Mangal, Legal Officer and Compliance Officer of the Cooperatives Department at the Ministry of Labour Alyea Williams, Legal and Compliance Manager at the Guyana Gold Board Melissa Smith, and Compliance Officer at the Gaming Authority Victor Herbert.