May 10 2016
The Financial Intelligence Unit (FIU), the body tasked with the implementation of the Anti-Money Laundering and Countering the Financing of Terrorism (AML-CFT) legislation will soon become functional, according to Finance Minister Winston Jordan.
The FIU existed previously with limited staff capacity, resulting in no one being identified or prosecuted for the crime of money laundering and related activities in Guyana. Jordan explained that several critical amendments to the AML-CFT legislation have been passed since the Government’s ascension to office. Additionally, the administration is looking to make the FIU an independent body. He said they were working on putting the FIU on a formal footing, and to have a transparent process where staff recruitment is concerned.