simple farmer

True to form the Guyana govt is blaming everyone else for the latest disaster it has created. But don’t be fooled by those crocodile tears. These swindlers, crooks and panhandlers have been ignoring the recommendations of the since November 2013.
With sanction looming overhead they’re now trying to pull last minute trickery and put on a clown show in Managua. But it looks like the jig is up on this one
submitting the bill to parliament on april 22 2013 is a delaying tactic and a fraud. the PPP crooks know fully well know that their report was to be submitted ahead of the Plenary Meeting and in any event by May 6,2013.

November 10, 2011 – First Follow-Up Report Guyana
III. Conclusion
76. While the authorities in Guyana have commenced to comply with some of the recommendations in the MER, these measures at present are minimal. There is need to formulate specific measures on a priority basis with timelines for the large majority of the recommendations that are presently under consideration. Additionally, information with regard to available statistics to demonstrate implementation needs to be submitted. Given the above, it is recommended that Guyana remain in expedited follow-up and be required to report to the next Plenary in May 2012.

May 2012 – Second Follow-Up Report Guyana
III. Conclusion
90. The overall situation as noted in the last Follow-Up Report has changed little except for the substantial improvement in the level of compliance with SR VI.. While the authorities in Guyana have commenced to comply with some of the recommendations in the MER, these measures are still minimal. There is need to formulate specific measures on a priority basis with timelines for the large majority of the recommendations that are presently under consideration. Additionally, information with regard to available statistics to demonstrate

implementation needs to be submitted. Given the above, it is recommended that Guyana remain in expedited follow-up and be required to report to the next Plenary in November 2012.
SR.IV Suspicious transaction reporting – Guyana received a PC rating [partially compliant] for doing very little

guyana govt is so serious about this anti-money laundering bill check out the intellectual giants at their press conference. minister of housing and tourism irfan ali, zulfikar mustapha, ppp general secretary, gods representative at the ministry of finance juan edghill, and disgraced former minister and former ambassador to brazil kellawan lall

Summary of factors underlying rating
Reporting requirement for terrorist financing does not include funds suspected of being linked, or related to, or to be used for terrorism, terrorist acts or by terrorist organisations
Recommended Actions
Reporting requirement for terrorist financing in the AMLCFTA should include funds suspected of being linked, or related to, or to be used for terrorism, terrorist acts or by terrorist organisations
Undertaken Actions
This recommendation was referred to the Ministry of Legal Affairs and the Ministry has responded as follows – a recommendation will be made to the relevant authority for the AMLCFT Act to be amended to facilitate the recommended action

Summary of factors underlying rating
No provision specifying that the requirement to report suspicious transactions should apply regardless of whether they are thought, among other things, to involve tax matters.
Recommended Actions
The requirement to report suspicious transactions should apply regardless of whether they are thought, among other things, to involve tax matters.
Undertaken Actions
This recommendation was referred to the Bank of Guyana and the Bank has responded as follows – Section 18 of the AML/CFT Act is a general provision which requires reporting of suspicious transactions in any circumstances
Summary of factors underlying rating
Unable to assess effectiveness of the reporting system due to the unavailability of statistics on suspicious transaction reporting

November 2012 – Third Follow-Up Report Guyana
III. Conclusion
110. The overall situation as noted in the previous Follow-Up Report has changed little except for the improvement in the level of compliance with Recs. 21, 35, 38, 32 and SR VI. While the authorities in Guyana have commenced to comply with some of the recommendations in the MER, these measures are still minimal. Most proposed measures include legislative amendments, enactment of regulations and issuance of guidelines. The provision of training for financial institutions and competent authorities is also being planned as part of technical assistance being provided through the CBSI. There is need for the authorities to demonstrate continued implementation by submitting information for each report regarding the provision of training both to the competent authorities and the financial institutions, the on-site AML/CFT inspection activity of the BOG, GSC and CCDO and the various statistical information required under Rec. 32. Given the above, it is recommended that Guyana remain in expedited follow-up and be required to report to the next Plenary in May 2013.

Recommendation 21
61. With regard to the recommendation that effective measures should be established to ensure that financial institutions are advised of concerns about AML/CFT weaknesses in other countries, the authorities have advised that a circular based on the FATF public statement published on June 22, 2012 was issued to reporting entities on August 17, 2012. This measure will be ongoing. The recommendation for the background and purpose of all transactions having no apparent economic or visible lawful purpose with persons from or in countries which do not or insufficiently apply the FATF Recommendations to be examined and written findings to be made available to assist competent authorities and auditors is expected to be addressed by December 31, 2012. The recommendation for provisions to allow for the application of countermeasures against countries that do not or insufficiently apply the FATF Recommendations was referred to the Ministry of Legal Affairs which has made the necessary recommendation for amending the AMLCFTA to the relevant Minister. Based on the above, one (1) of the recommendations has been met and two (2) remain outstanding.

Recommendation 32
81. The first recommendation requires the GRA to maintain statistics on the number of declarations collected and the number of false declarations detected and the amounts of currency involved or resultant cash seizures.
Recommendation 35
Implementing The Vienna, Palermo and Terrorist Financing Conventions

Recommendation 38
93. The recommendation for guidelines or procedures in regard to timelines to facilitate an expeditious response to mutual legal assistance to be developed and implemented has been referred to the Ministry of Legal Affairs which will seek to develop and implement guidelines in respect of timelines to facilitate an expeditious response to mutual legal assistance.