Financial Crime World

Guyana Vows to Intensify Fight Against Terrorism Financing

Georgetown, Guyana - The government of Guyana has reaffirmed its commitment to combating terrorism financing (PF) through a five-point strategy aimed at disrupting and preventing funds from reaching terrorist entities.

Strengthening Efforts to Combat PF

According to a statement released by the authorities, Guyana is strengthening its efforts to detect, deter, and prevent PF, which it says is a major threat to national security. The country is working closely with domestic agencies, including:

  • Financial Intelligence Unit (FIU): responsible for receiving and analyzing Suspicious Transaction Reports (STRs) related to PF
  • Special Organised Crime Unit (SOCU): works closely with the Special Branch and FIU to ensure thorough investigation of credible instances of PF
  • Law enforcement agencies: exchange intelligence and collaborate on investigations, while FIU disseminates financial intelligence to support operational needs

International Partnerships and Cooperation

Guyana is also leveraging international partnerships and cooperation mechanisms, including:

  • Bilateral and multilateral agreements
  • Structured platforms: INTERPOL, CARICOM IMPACS, and the Egmont Group
  • Formal and informal channels: provides assistance to other jurisdictions while seeking assistance from other countries

Commitment to Robust Understanding of PF Risks

The government has emphasized its commitment to maintaining a robust understanding of PF risks at both the international and regional levels, and will continue to participate in:

  • International platforms to maintain and enhance cooperation
  • Regional organizations: CARICOM, Regional Security System (RSS), and ARIN-CARIB

Government Spokesperson’s Statement

“We recognize the importance of continuing collaboration and will continue to prioritize strengthening cooperation amongst domestic competent authorities as well as stakeholders in the private sector,” said a government spokesperson. “Our efforts are guided by a comprehensive strategy that includes:

  • Ensuring a good understanding of our PF threats and vulnerabilities
  • Formulating necessary frameworks
  • Implementing robust regulatory regimes
  • Relying on an efficient law enforcement infrastructure
  • Maintaining strong working relationships with international counterparts”

Importance of Combating Terrorism Financing

The government’s commitment to combating terrorism financing is seen as crucial in the fight against global terrorism, which it says remains a real and present danger.