The Attorney General and Minister of Legal Affairs, Mr. Anil Nandlall, SC, MP, leads Guyana’s delegation at the Caribbean Financial Action Task Force (CFATF) 55th Plenary and Working Group Meetings being held in the Cayman Islands from November 27 to December 1, 2022. The delegation includes, Dr. Gobind Ganga, Governor of the Central Bank, Mr. Matthew Langevine,...Read More

OTHER OBLIGATIONS OF A REPORTING ENTITY In addition to a reporting entity’s obligation to submit reports to the FIU, the Anti-Money Laundering and Countering the Financing of Terrorism legislation imposes a number of other obligations on reporting entities. These other obligations include: Carrying out an assessment of the money laundering and terrorist financing risk your...Read More

PROTECTION OF INFORMATION WITH THE FIU Information received, accessed, processed, in the possession of or disseminated by the FIU is subject to strict confidentiality laws and safety measures. Safety mechanisms for the exchange and use of information are in accordance with the Operational Policies and Procedures for FIUs internationally as prescribed by the Egmont Group...Read More

TYPES OF REPORTS THE FIU RECEIVES Reporting entities are required to submit the following reports to the FIU: Threshold transaction reports; Suspicious transaction reports; and Terrorist property reports. WHAT ARE THRESHOLD TRANSACTION REPORTS (TTRS)? TTRs are reports of transactions conducted by customers of reporting entities that meet pre-determined limits/ thresholds.  For example, any cash (or...Read More

GUYANA REVENUE AUTHORITY The Guyana Revenue Authority (GRA) is required to send reports of Declaration of International Transportation of Currency hereinafter referred to as “Foreign Currency Declaration Report” to the FIU. WHAT IS A FOREIGN CURRENCY DECLARATION REPORT? A foreign currency declaration report is a report prepared by the GRA based on the Declaration of...Read More

Current Supervisory Authorities (SAs) approved via the AMLCFT Act and/ or by the Minister of Finance, and their respective Reporting Entities (REs) are as follows: SUPERVISORY AUTHORITY REPORTING ENTITIES Governor, Bank of Guyana Commercial Banks Money Transfer Agencies Cambios Insurance Companies and Brokers Non-Bank Financial Institutions Guyana Securities Council Securities Dealers and Brokers, Underwriters, Advisers,...Read More

The Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act 2009 prescribes measures to prevent money laundering and the financing of terrorism. The purpose of the Act is to, among other things, provide for unlawful proceeds of all serious offences to be identified, traced, frozen, seized and forfeited.  All citizens of Guyana have a...Read More

What is Money Laundering? Money laundering is the act of disguising the source or true nature of money obtained illegally. The crime of money laundering is also associated with other serious offences. What is a serious offence? A “serious offence” is an offence against any law in Guyana, for which the maximum penalty is death...Read More

WHAT IS THE FINANCIAL INTELLIGENCE UNIT (FIU)? The FIU was established in August 2009 under the Anti-Money Laundering and Countering the Financing of Terrorism (AMLCFT) Act of 2009. This Agency is responsible for requesting, receiving, analysing and disseminating information related to suspicious transactions and other information relating to money laundering, terrorist financing or proceeds of...Read More

BACKGROUND Money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction (WMD) are pervasive problems affecting countries globally.  These problems pose serious threats to the economic growth and development, and social stability of affected nations. Guyana is no exception and must therefore comply with international standards to combat these threats...Read More