Technical Resources Crucial for Effective Terrorism Investigation
The fight against terrorism financing (TF) and related matters requires specialized technical resources to ensure effective investigation and prosecution. However, current mechanisms lack dedicated or specialized sections for dealing with TF, and personnel have not received specialized training.
Enhancing Technical Resources
To address this gap, the Financial Intelligence Unit (FIU) will receive specialized training on receiving and analyzing Suspicious Transaction Reports (STRs) related to TF. The FIU’s department will be staffed by members with expertise in countering terrorism and TF-related matters.
- Similarly, the Special Organized Crime Unit (SOCU) and Office of the Director of Public Prosecutions (DPP) will be adequately structured, funded, and staffed with personnel having appropriate training and skills to deal with financial crimes, civil recovery, and other resources to perform their functions.
- The DPP’s office will also receive additional employees, including an expert financial crimes prosecutor.
Strengthening Investigation Process
To enhance the investigation process, an investigation manual, standard operating procedures, and a code of conduct will be designed and implemented for SOCU using international best practices. Sentencing guidelines will also be designed and implemented across all courts to ensure uniformity in the Anti-Money Laundering/Combating Financing of Terrorism (AML/CFT) regime.
Strengthening Detection Strategies
The rise of new technologies poses new challenges in AML/CFT/CPF, particularly with services that allow users to remain anonymous. Guyana has undertaken a virtual assets and virtual assets service provider risk assessment to address these emerging threats.
Raising Awareness and Understanding of Risks
To ensure a national and uniform understanding of risks, a Non-Profit Organization (NPO) TF risk assessment was finalised in 2022, which found the risk to be low. An outreach exercise has commenced to raise awareness among NPOs about their AML/CFT/CPF responsibilities.
- Supervisory authorities are working with the FIU to ensure that reporting entities comply with legislative provisions on freezing funds or other assets related to individuals or entities designated by the United Nations Security Council (UNSC) pursuant to UNSCRs 1267, 1373, and 1718 and their successor resolutions.
Specific Outcomes
- Improve understanding of risks
- Communicate results of various risk assessments to supervisory authorities and reporting entities
- Increase risk-based supervision, taking into account the specific risk situation of each sector and reporting entity
- Ensure adequate supervision for legal persons and legal arrangements that may be abused for TF
By strengthening technical resources and detection strategies, Guyana aims to enhance its capabilities in combating terrorism financing and related threats.