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Guyana Secures Good Rating in Anti-Money Laundering Efforts at Caribbean Financial Action Task Force Meeting

CFATF Adopts Report on Guyana’s AML/CFT Regime

At the recent 58th Plenary and Working Group Meetings of the Caribbean Financial Action Task Force (CFATF), held in Trinidad and Tobago from June 2nd to 7th, a key report on Guyana’s anti-money laundering (AML) efforts was adopted. The report is the result of a comprehensive examination of Guyana’s AML/CFT regime by the CFATF.

Mutual Evaluation Exercise Finds Significant Progress

The Mutual Evaluation Exercise consisted of an on-site examination in September 2023 and peer review discussions. The assessment found that Guyana has made significant strides in its AML/CFT framework, with provisional ratings indicating compliance or largely compliance with 88% of the recommendations.

Strengths Identified

The report noted Guyana’s strengths in:

• National coordination mechanisms
• Risk understanding
• Financial intelligence unit operations

Additionally, the country has demonstrated effective supervision and preventative measures to combat money laundering and terrorist financing.

Commitment to Continued Investment in Law Enforcement Authorities

Attorney General Anil Nandlall SC, who led the Guyanese delegation, emphasized the need for continued investment in law enforcement authorities to ensure the ability to combat AML/CFT remains paramount.

Report Undergoing Quality and Consistency Process

The report will undergo a quality and consistency process with the Financial Action Task Force (FATF) and Global Network before its publication later this year.

Guyana’s Delegation

Guyana’s delegation included officials from various government agencies, financial institutions, and regulatory bodies. The country is expected to report back to CFATF in November 2025 on its follow-up actions based on the final published report.