Mon | Jul 26, 2021

OAS head nudge Guyana to pass anti-money laundering legislation

Published:Monday | May 5, 2014 | 9:13 AM

The Secretary General of the Organization of American States, José Miguel Insulza, has issued another call for the Parliament of Guyana to approve the Anti-Money Laundering and Countering the Financing of Terrorism Act.



The bill has been under consideration by the Legislature for several months.



Insulza said that passage of the Act is crucial noting that several of Guyana’s CARICOM partners have already adopted similar legislation in compliance with the requirements of the Caribbean Financial Action Task Force.



He warned that further delays could result in unnecessary damage to Guyana's financial stature.



The task force recently warned of harsh consequences should Guyana fail to pass anti-money laundering legislation before a May 29 conference.



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