Countrywide sensitisation on FATF/CFATF for 2018

DPI, GUYANA, Thursday, December 7, 2017

The Ministry of Legal Affairs will undertake further nationwide sensitisation on the Financial Action Task Force (FATF) and Caribbean Financial Action Task Force (CFATF) in 2018.

Attorney General and Minister of Legal Affairs, Basil Williams S.C, noted that Guyana “cannot sit on our laurels” even after rising “from the abyss of CFATF’s reproach”. The Minister was updating the house on Guyana’s standing with the regimes during 2018 national budget debates in the national assembly today.

The seminars which began in New Amsterdam, Berbice will continue into the new year. The aim is to sensitise  supervisory and reporting entities on meeting FATF and CFATF compliance.

Minister Williams played a leading role in clearing the country from FATF’s monitoring process under its on-going global Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT).

Guyana cleared FATF’s watchlist in October 2016 and subsequently the CFATF blacklist. Minster Williams, became the chair of CFATF after Guyana hosted the 46 Plenary and Working Group Meeting  at the Marriott Hotel in November.

Guyana has since established an AML/CFT Coordinating Committee (AML/CFT CC) to work to ensure Guyana remains complaint and effective in implementing requirements under the FATF/CFATF regimes as it prepares for the Fourth Round of Mutual Evaluation in 2020.

 

By: Tiffny Rhodius

 

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