AG Nandlall meets with visiting delegation from Trinidad, BVI FIUs

The Honourable Attorney General and Minister of Legal Affairs, Mohabir Anil Nandlall, S.C, M.P, on Tuesday, April 25, 2023, met with a visiting delegation from the Financial Intelligence Units (FIU) of Trinidad and Tobago and the British Virgin Islands.

The delegation comprised Mr. Nigel Stoddard, Director of Acting Director of the FIU, Trinidad and Tobago, and Mr. Errol George, Director of the Financial Investigation Agency, British Virgin Islands. Accompanying the Hon. Attorney General were Mr. Matthew Langevine, Director of the FIU Guyana, and Mr. Rommel St. Hill, Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Officer attached to the Attorney General Chambers.

The visiting delegation is currently in Guyana conducting an on-site visit with regard to Guyana’s application to join the Egmont Group of FIU. Subsequent to their visit, the delegation will provide a report to the Egmont Group in July 2023 in Dubai for consideration.

If successful, this will enable Guyana to join the Egmont Group in early-2024. Guyana’s joinder to this important international institution will significantly enhance its FIU institutional capability to access international platforms and to receive and be able to disseminate vital information and intelligence in relation to organised crime, terrorist financing, and other local and cross-border illicit activities.

The delegation commended Guyana on its current AML/CFT framework and the consistent exchange of information and cooperation within this domestic network. The delegation also hailed Guyana’s FIU for executing Memoranda of Understanding (MoU) with almost all of its counterparts across the Caribbean and other key stakeholders.

During their visit, the delegation met with the Finance Secretary, the Special Organised Crime Unit (SOCU), the Customs Anti Narcotic Unit (CANU), the Director of Public Prosecutions (DPP), representatives from the Bank of Guyana, Guyana Securities Council and the Guyana Revenue Authority (GRA). They are also scheduled to meet with reporting entities including the commercial banks and the Guyana Immigration Service.

The Hon. Attorney General thanked the delegation for their timely visit. He informed them of various pieces of legislation currently in draft to strengthen and update Guyana’s AML/CFT regime and to meet the Financial Action Task Force (FATF) international standards, including amendments to the principal AML/CFT Act, a Bill to create an omnibus agency as a supervisory authority for unsupervised entities, and a draft Real Estate Bill which will provide the regulatory framework for real estate agents and developers.

The Hon. Attorney General indicated that he is optimistic that the delegation’s visit and input will help to accelerate Guyana’s application to join the Egmont Group, as   Guyana is becoming a sophisticated economy attracting large

investments and therefore the importance of creating a strong regulatory framework to protect its growing financial sector is of paramount importance to the Government.