With Guyana in its final preparations for oil production, the country remaining off of blacklists for money laundering is something that the government intends to ensure.
Guyana was removed from the European Union blacklist for money laundering earlier this year after being placed on the list a few years ago.
Today, Attorney General Basil Williams told the opening of a Risk Assessment Seminar on Money Laundering that with Guyana become a bigger player on the world stage, the country has to ensure it does not find itself blacklisted again.
The Attorney General said, “with the oil regime blooming, it is very important that we ensure that we are not blacklisted because the Caribbean Financial Action Task Force and the International Financial Action Task Force requirements to protect the international economy is brutal”.
Mr. Williams said there is a greater need for the implementation of several regulations outlined by the Caribbean Financial Action Task Force (CFATF) to protect the country from money laundering efforts.
According to Williams, the move to implement measures on a continuous basis in keeping with international recommendations must be done.
” We had to show the financial actors that we are serious, I think they were convinced and so we now have to build on that”, the Attorney General said.
Williams said Guyana has come a long way since 2015 with respect to ensuring the laws and commitments are in place to guard against money laundering and the financing of terrorism.
He said the government remains serious about its efforts and will continue to work in that regard.
Guyana will come up for assessment again by the Caribbean Financial Action Task Force in 2023.