Guyana Law
against Money Laundering
Georgetown - A
law against Money Laundering and Financial
Terrorism was approved by the president of
Guyana, Bharrat Jagdeo, to facvilitate
judicial processes against those who commit
those crimes.
The bill establishes the supervision of
insurance and exporting companies, real
estate and systems for sending remittances,
while it establishes a series of penalties
for irregularities, among them freezing and
confiscation of assets.
The statute gives greater power to the Unit
of Financial Intelligence, considered now as
an independent entity and in charge of
soliciting, analyziung and evaluating
reports of suspicious transactions.
As of next February 14th, when it is
enforced, the financial institutions will
have a six-month period to verify the data
of their clients, in order to prevent the
existence of anonymous accounts opened under
fake names. The legislation constitutes a
step forward in the struggle of the Guyanese
government against crime, as it prevents the
access of cri8minals to resources used to
promote illegal fiscal practices and
complies with international norms, according
to statements by Ashni Singh, Minister of
Finance.
Previously known as British Guiana, is a
state on the northern coast of South America
that is culturally part of the Anglophone
Caribbean. It is the only state of the
Commonwealth of Nations on mainland South
America.
|
|
|
|
|
| |
|
|
|
|
|
