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| The People’s Progressive Party/Civic (PPP/C) Administration has deliberately not enforced its own anti-money-laundering legislation for over 13 years. It only attempted to do so when it was threatened with sanctions by the Caribbean Financial Action Task Force (CFATF) and the international financial community.This is according to A Partnership For National Unity (APNU), which yesterday reminded that the Money Laundering Prevention Act of 2000 was introduced by the (PPP/C) administration 13 years ago and it was never enforced and was deemed ‘ineffective.’A missive reminded that the Anti-Money Laundering and Countering the Financing of Terrorism Act of 2009 was then introduced under international pressure and that too was never enforced and was also deemed ‘ineffective.’The coalition charged that the Bank of Guyana never had the capacity to fully execute its mandate to supervise financial institutions for compliance with anti-money laundering requirements.According to APNU,Jerseys From China, the Financial Intelligence Unit (FIU),Cheap Jerseys NFL China, established since 2003,Authentic NFL Jerseys Cheap, was always a weak, understaffed, under equipped and a one-person organization.APNU said that the FIU was completely dependent upon the Ministry of Finance for its budget and office space.“It has never made a single money-laundering prosecution and never reported on its work before November 2013.”The coalition further charged that the Guyana Government does not release statistics on the number of suspicious transaction reports (STRs) received by the FIU although it is required to make these statistics available as mandated by the Financial Action Task Force (FATF).It reminded also that the CFATF made recommendations to strengthen the relevant legislation as well as the Bank of Guyana and the FIU.It was only in April 2013 when Guyana was threatened with being ‘blacklisted’ and deadlines for compliance were set that the Government was forced to introduce amendments to the National Assembly, according to APNU.“APNU is committed to amending the current Anti-Money Laundering and Countering the Financing of Terrorism Act of 2009 to ensure that it is effective…APNU is committed to ensuring that the Bank of Guyana and the Financial Intelligence Unit are empowered and equipped to fulfill its functions and achieve the objectives of the Act.”APNU maintains that it is committed to engaging the government,Wholesale NFL Jerseys, the private sector,Cheap Jerseys Free Shipping, civil society,NFL Jerseys Wholesale, the trade unions and the international community to protect our economy with enforceable Anti-Money Laundering and Countering the Financing of Terrorism laws. |
