Guyana to participate in AML/CFT forum, workshop

May 01, 2016 News

Government has granted its approval for Lancelot Wills, Manager (ag), Legal Services, Division, Guyana Revenue Authority (GRA) to attend the KAW Management Services Limited’s Eighth Annual Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT), Anti-Fraud and Financial Crimes Conference and Post Conference Workshop, both set for July.
Cabinet gave its go-ahead following a proposal submitted by Minister of Finance, Winston Jordan in which he stated that the GRA stands to lose the benefits associated with the forum and workshop if it fails to participate, a Ministry of the Presidency statement said.
The Minister’s proposal was made after the GRA requested to send one participant to the forum scheduled for July 11-12, 2016 and the workshop planned for the following day, July 13, in Antigua.
The key agenda items include addressing money laundering, terrorism financing, fraud and other financial crimes, the risk of ignoring financial crimes and failure to sanction and preparing effective Suspicious Activity Report (SARs) from investigations and analysis of crime.
The expected impacts of the forum are to build capacity for effective execution of the Revenue Authority AML/CFT supervisory function and to establish a network and/or linkages of experts in the field of AML/CFT.
Funding for the workshop is being provided by the Inter-American Development Bank.