The Executive Director of the Regional Security System (RSS), Commodore Errington Shurland of Barbados believes that while amendments to Guyana’s Anti-Money Laundering Laws are crucial, enforcement is equally important as the country undergoes its Fourth Round of Mutual Evaluation by the Caribbean Financial Action Task Force (CFATF).

Speaking virtually during the opening ceremony of a Regional Security System Asset Recovery Workshop for judicial officers this morning, Commodore Shurland, while acknowledging the steps taken by Guyana in recent times to bring its AML/CFT regime in line with the CFATF standards, warned that implementation is critical.

 “The enactment of these amendments is crucial for the success of the country in its ongoing mutual evaluation. However, without demonstrating the application of these amendments, and tools, the country would only have exemplified technical compliance but not effectiveness, as required. Fundamentally, effectiveness requires a working and practical understanding of the tools and mechanisms that must be utilized,” Shurland explained.

The workshop, which targeted Judicial Officers, is part of a series of workshops being rolled out by the State to improve its capability to tackle financial crimes.

In his address, Guyana’s Attorney General, Senior Counsel Anil Nandlall, acknowledged that while the country focused extensively on convicting persons engaged in financial crimes in the past, little to no attention was placed on civil forfeiture.

However, with recent amendments to the Anti-Money Laundering legislation, the Attorney General said the State will be moving to seize the properties of persons found to be engaged in money laundering and other related financial crimes. In the interim, he explained that the State is building its capacity to investigate these crimes. 

“The Government also recognizes the importance of scientific type investigation. Crime and criminality is now becoming very, very sophisticated and we can’t continue with the traditional way of investigation. Government is committed to equip our forensic laboratory and to add to what is there already, we have imported four highly qualified forensic experts, who are going to be attached to the lab for the next three years,” he said.

Mr. Nandlall also said the move by the State to organize the workshop in collaboration with the RRS Asset Recovery Unit is not only a demonstration of its commitment to the Rule of Law, but also its commitment to ensuring that the country has a robust financial system that is capable of tackling the new challenges that come with an expanding economy, and by extension, Financial Sector.

 “It demonstrates that we have a sound appreciation of the important challenges that are ahead. What is represented here is the state of Guyana’s commitment to battle organized crime,” Minister Nandlall said.

The Acting Chancellor of the Judiciary, Justice Yonette Cummings said throughout the training, the judicial officers together with the facilitators will explore Guyana’s legal framework and the intricacies of investigative orders and the procedures surrounding cash seizures among other important topics.

The workshop wraps up on Friday. (Svetlana Marshall)

Related posts:

CFATF sees need for unified Law Enforcement response to money laundering in Guyana Mutual evaluation of Guyana’s anti-money laundering efforts set to begin Monday Government to further strengthen Guyana’s anti-money laundering legislation -AG Nandlall Government and Opposition Clash over Amendments to Anti-Money Laundering Laws