GUYANA-Guyana is boosting its capacity to fight financial crimes.

GEORGETOWN, Guyana, CMC – The head of the Barbados-based Regional Security System (RSS), Commodore Errington Shurland, Monday said 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).

In a virtual address to the start of the week-long Regional Security System Asset Recovery Workshop for judicial officers, the RSS executive director said. At the same time, Guyana has, in recent times, taken steps to bring its Anti-Money Laundering and Countering the Financing of Terrorism and Proliferation Financing (AML/CFT/PF) regime in line with the CFATF standards, implementation nonetheless is critical.

“The enactment of these amendments is crucial for the country’s success 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 said.

A statement issued by the Attorney General’s Office noted that the focus on asset recovery and training local officers is part of Guyana’s commitment to AML/CFT/PF and that the event is expected to address some of the deficiencies identified in Guyana’s AML/CFT/PF systems.

“It’s a very holistic approach to training and preparing ourselves to meet the modern changes and the modern obligation which Guyana as a nation-state has to discharge at an international and regional level,” Attorney General and Minister of Legal Affairs, Anil Nandlall, SC told the opening ceremony.

Nandlall said that while Guyana has focused extensively on convicting persons engaged in financial crimes in the past, more attention was needed on civil forfeiture.

But he said recent amendments to the Anti-Money Laundering legislation would allow the state to seize the properties of persons engaged in money laundering and other related financial crimes.

He said in the interim, the state is building its capacity to investigate these crimes.

“The government also recognizes the importance of scientific type investigation. Crime and criminality are becoming very sophisticated, and we must find a way to continue with the traditional way of research.

“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.

Acting Chancellor of the Judiciary, Yonette Cummings-, underscored the importance of the training, noting that there is an increased need for capacity building and regional collaboration as Guyana undergoes rapid economic transformation.

She said throughout the training, the judicial officers and the facilitators will explore Guyana’s legal framework, the intricacies of investigative orders, and the procedures surrounding cash seizures, among other vital topics.