Strengthening Anti-Terrorist Financing Laws in Guyana
Regional Judges and Prosecutors Converge for Workshop on Money Laundering and Terrorist Financing
Georgetown, Guyana - In a bid to combat financial crimes, Caribbean judges and prosecutors have gathered in Georgetown for a high-level workshop aimed at identifying strategies to strengthen money laundering and terrorist financing laws.
President Emphasizes Collective Action Against Financial Crimes
Speaking at the opening ceremony of the workshop, President David Granger emphasized the need for collective action against financial crimes. “Caribbean countries must be strengthened with their collective institutions against the threat of money laundering and terrorist financing,” he said. “Robust legislation and sturdy institutions are our weapons in the war against financial crimes.”
Workshop Aims to Equip Countries with Necessary Tools
The workshop, organized by the Caribbean Financial Action Task Force (CFATF), the Commonwealth Secretariat, and the Cooperative Republic of Guyana, aims to equip countries with the necessary tools to tackle anti-money laundering (AML) and combating the financing of terrorism (CFT) cases.
Workshop Highlights
Best Practices for Handling Money Laundering Cases
- Facilitated by experts from the Commonwealth and CFATF, including regional representatives
- Examines best practices for handling money laundering cases
- Includes mock trials to simulate real-life scenarios
Confiscation and Restraint Orders
- Focuses on confiscation and restraint orders in AML/CFT cases
- Highlights the importance of effective legal frameworks and procedures
Role of Prosecutors and Judges
The session also focuses on the role of prosecutors and judges in preventing terrorism, terrorist financing, and violent extremism.
Unintended Consequences of AML/CFT Regulations
Secretary-General Patricia Scotland raised concerns about the unintended consequences of AML/CFT regulations on investment flows and business relationships. She pledged to work with the region to address the range of concerns around AML/CFT management.
Memorandum of Understanding Signed
In a related development, Secretary-General Scotland signed a Memorandum of Understanding (MOU) with Caribbean Community (CARICOM) Secretary-General Irwin LaRocque, covering crime and security matters. The MOU aims to strengthen cooperation between the two organizations in areas critical to sustainable development in the region.
Conclusion
The workshop is an important step towards strengthening anti-terrorist financing laws in Guyana and the Caribbean region. It underscores the need for collective action and cooperation among regional countries to combat financial crimes and ensure the safety and well-being of their citizens.