Financial Crime World

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Guyana: Financial Institution Anti-Money Laundering Efforts Under Scrutiny

The Financial Intelligence Unit (FIU) has been at the forefront of combating money laundering and terrorist financing in Guyana since its establishment in 2004. The FIU was first set up under the Money Laundering Prevention Act of 2000, which was later replaced by the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act No. 13 of 2009.

Core Functions

According to sources, the core functions of the FIU are outlined in section 9(1) of the AML/CFT Act. These include:

  • Requesting information on suspicious transaction reports
  • Receiving and analyzing data related to money laundering, terrorist financing, or the proceeds of crime
  • Disseminating information to relevant authorities

Role in Combating Financial Crimes

The FIU plays a crucial role in monitoring and preventing financial crimes in Guyana, working closely with:

  • Financial institutions
  • Law enforcement agencies

to ensure that the country’s financial system remains secure.

Commitment to Protecting Guyana’s Financial Integrity

As the global fight against money laundering and terrorism continues to intensify, the FIU remains committed to its mandate of protecting Guyana’s financial integrity.