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OAS again calls for approval of anti-money laundering legislation in Guyana
Published on May 3, 2014 Email To Friend    Print Version

WASHINGTON, USA -- The secretary general of the Organization of American States (OAS), José Miguel Insulza, on Friday issued another call for the Parliament of Guyana to approve the Anti-Money Laundering and Countering the Financing of Terrorism Act (AMLCFTA), which has been under consideration by the legislature for several months.

Insulza stated that passage of this Act is crucial to bring the country up to standard on these matters, noting that several of Guyana’s Caribbean Community (CARICOM) partners have already adopted similar legislation in compliance with the requirements of the Caribbean Financial Action Task Force.

Further delays, according to Insulza, could result in unnecessary damage to the country’s financial stature. The secretary general therefore appealed again to all political parties and other stakeholders in Guyana to exercise leadership and understanding in seeking prompt passage of the AMLCFTA.

Insulza offered the cooperation and support of the OAS through the Inter-American Drug Abuse Control Commission (CICAD), noting that Guyana’s draft law is fully consistent with the most recent recommendations of CICAD’s expert group on money laundering, which were in turn endorsed by CICAD commissioners at their 55th Regular Session in Washington DC this week.
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