Guyana secures best regional AML/CFT Case Award at 59th CFATF Plenary
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Guyana secures best regional AML/CFT Case Award at 59th CFATF Plenary
Attorney General Anil Nandlall, SC led Guyana’s delegation to the 59th Caribbean Financial Action Task Force (CFATF) Plenary and Working Group Meetings in Jamaica
GUYANA has won the prestigious Best Regional AML/CFT Case Award (BREMOLT) at the 59th Caribbean Financial Action Task Force (CFATF) Plenary and Working Group Meetings, which is being held in Montego Bay, Jamaica.
A delegation, led by Attorney General and Minister of Legal Affairs, Anil Nandlall, SC, is at the Plenary, furthering areas regarding cooperation and collaboration with CFATF Member States and other countries and international agencies attending the meetings.
The BREMOLT was contested by four jurisdictions which submitted eight cases to be assessed. There were three finalists (Guyana, Jamaica and The Bahamas), which were nominated by a panel of highly experienced and competent judges from CFATF jurisdictions.
Following presentations from the three finalists, Guyana was adjudged the best-case winner by a majority vote of the delegates of the 24-member jurisdictions of the CFATF.
Guyana has won the prestigious Best Regional AML/CFT Case Award (BREMOLT)
Guyana’s submission provided a synopsis on the use of suspicious transaction reporting, intelligence analysis, and the use of investigative techniques which were used to eventually bring charges against embattled Assistant Commissioner of Police (ACP), Calvin Brutus, for money laundering and other financial related offences.
The case focused on demonstrating the effectiveness of the AML/CFT systems established and implemented by Guyana before and after its last Mutual Evaluation Report.
The case also served as a great example to participants attending the Plenary of how the systems that are put in place by countries like Guyana can be used as a deterrent to contributing to the scourge of money laundering and terrorist financing.
This case was also monumental as it illustrated the possibilities related to abuse of procurement processes, and methods in which the AML/CFT system can be used to minimise such abuse by high-ranking public officials.
This was demonstrated by the real time cooperation among key agencies including the reporting entities—the Financial Intelligence Unit (FIU), Special Organised Crime Unit (SOCU), Attorney General’s Chambers, Guyana Revenue Authority (GRA) and the Office of the Director of Public Prosecutions (DPP)—to successfully bring charges regarding the alleged offences against Brutus and his alleged associates, which included his spouse who was the beneficial owner of a number of corporate entities.
It also illustrated Guyana’s commitment to battle corruption and financial impropriety by public officials, regardless of status, to ensure proper management of its financial systems and resources for its citizens. Additionally, this case was distinguished and recognised for Guyana’s ability to bring a high-ranking police official before the courts for alleged offences, as it involves one of the highest-ranking police officials ever charged with such a crime in the Caribbean region.
On the margins of the ongoing plenary, Guyana also signed a Memorandum of Understanding with the Cayman Islands, through their respective Financial Intelligence Units, to advance international cooperation and collaboration between the FIUs of these countries.
Additionally, Alicia Williams of the FIU of Guyana moderated a Round Table Discussion at the Heads of FIU forum on Sunday December 1, 2024, under the topic: Mastering the Art of Suspending Transactions. The objective of the session was to discuss the challenges, lessons learned, and the successes experienced by peers on the use of the power of suspension/postponement of transactions.
Agencies representing Guyana at the Plenary include the FIU, GRA, Bank of Guyana (BOG), Attorney General’s Chambers, SOCU, DPP’s Office, the Cooperatives Department (CCDO), Guyana Securities Council (GSC), Guyana Geology and Mines Commission (GGMC), Guyana Gold Board (GGB), Gaming Authority (GA), Ministry of Natural Resources (MNR) and Ministry of Home Affairs Treaty Office (MOHA). The 59th CFATF Plenary and Working Groups Meeting concludes today.
By Staff Reporter
