Monday, January 18, 2021

U.S credits Guyana for progress in money laundering fight


Guyana has made significant progress on the Anti-Money Laundering (AML) front but there is need for more investigations as well as successful prosecutions, according to the recently released United States International Narcotics Control Strategy Report.

“The FIU [Financial Intelligence Unit] referred 21 cases to SOCU [Special Organised Crime Unit] for investigation in 2018. SOCU launched investigations into these and other reports of suspicious transactions, but there have not been any convictions to date. The authorities report non-cooperation by stakeholders with SOCU and lack of capacity within SOCU hinder its success at prosecutions,” the report said.


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