More Work To Be Done As Guyana Welcomes Removal From FATF Watch List

• Following the August 2nd declaration of results of the March 2nd elections, Guyana has been removed from the Commonwealth’s watch list after fears had arisen that a rigged result was in the making.
• However, Guyana must prove its effectiveness in being able to convict those who launder money and pilfer state assets if it is to remain off the Financial Action Task Force (FATF) watch list.
• Progress would have been reflected in the country passing the fourth round of Mutual Evaluation tests which are scheduled for 2020.
• According to the Country’s Minister of Legal Affairs and Attorney General Basil Williams, the test is whether [Guyana] would have shown sufficient progress on effectiveness, for example having more conviction for offenses of money laundering, terrorist financing, and the purloining of state assets.
• He also stated that the capacity of the judicial system will have to be developed in order to meet this requirement.

(Source: Guyana Department of Public Information)