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Guyana to undergo crucial anti-money laundering assessment

AS Guyana puts requisite systems in place ahead of its Fourth Round of Mutual Evaluation, it will, on Thursday, undergo its second Money Laundering and Terrorist Financing (ML/TF) National Risk Assessment (NRA).

“A Working Group of approximately seventy-six (76) persons representing both public and private sector organisations was established to carry out the country’s second ML/TF National Risk Assessment (NRA) exercise,” the Ministry of Legal Affairs disclosed on Monday, while noting that the World Bank will again provide technical assistance to Guyana to conduct this exercise.

“This will allow Guyana to identify any new or emerging money laundering or terrorist financing risks, threats or vulnerabilities,” it added. The new NRA will also take into account an assessment of the ML/TF risks associated with the oil and gas sector, proliferation financing, virtual assets and illegal wildlife trade. It will also allow the country to appropriately address its vulnerabilities and threats ahead of its scheduled mutual evaluation.

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