FIU 2018 report confirms govt’s effort to ensure transparency, accountability – Min Jordan

─ FIU hands over annual reports to Finance Minister

─ reports are expected to be laid before the National Assembly and made available for public perusal

DPI, Guyana, Monday, July 8, 2019

Following what has been described as a successful year, Director of the Financial Intelligence Unit (FIU), Matthew Langevine handed over the unit’s annual reports to Finance Minister, Winston Jordan, today.

Giving a summary, Director Langevine said the report, also containing the agency’s certified 2018 financial statements by the Auditor General’s office, provides an overview of activities conducted.

“It strives to execute its mandate of working with all local and international stakeholders in protecting the integrity of the local and international financial system, from money launderers and those trying to use our system to finance terrorism and proliferation.”

The FIU has signed Memorandums of Understanding (MOUs) with ten regional counterparts; the latest was with Barbados and Jamaica. “This has resulted in the sharing of information for the investigation of several money laundering cases. Increased training and outreach sessions were conducted to raise awareness of the FIU… We were able to use these MOUs, in a couple of money laundering investigations already, so the importance of these is being seen and realised… These are even more important as we continue to strive towards having Guyana accepted as a member of the Egmont Group of international FIU’s,” Langevine explained.

Finance Minister, Winston Jordan, describing the report as the first of its kind received by him, said it attests to the Coalition Government’s push to increase transparency and accountability.

“Since our entry into office, we have produced reports that are required by law and even reports that are not. Even as we speak, we are working on the half-year report and we have the unenviable record of getting that report into the National Assembly, before it goes into recess, even though the law requires that it be available before the 28th of August annually,” the minister stated.

The reports are expected to be laid before the National Assembly and made available for public perusal.