Thousands of $2M auto transactions triggered 26% TTR Increase – FIU

The Financial Intelligence Unit (FIU) of Guyana on Monday, said that it has noted that the V-PAC leader appeared to have misinterpreted data from the FIU’s 2024 Annual Report, particularly regarding Threshold Transaction Reports (TTRs).

In rejecting claims made by V-PAC on the group’s Facebook page, which were inaccurate and misleading, the FIU said that the report, presented to the National Assembly on November 3, outlines that TTRs capture financial transactions that meet or exceed legally specified monetary thresholds. For the auto dealers’ sector, transactions of $2,000,000 or more must be reported. The FIU explained that the 26 per cent increase in TTRs for auto sales reflects normal reporting due to the rising number of vehicles sold and registered locally, rather than any suspicious activity.
The FIU clarified that TTRs are submitted for strategic or operational analysis and are not inherently considered suspicious. Suspicious Transaction Reports (STRs), which are reported separately, are submitted only when a transaction is suspected to involve proceeds of criminal activity, money laundering, terrorism, or related offences. The unit urged the public to carefully review the Annual Report before making public statements to avoid misinterpretations and the spread of misinformation. The report is publicly available on the FIU’s website.