Add the escalation of drugs, crime, corruption and Thieving and you get the big picture of where Guyana is headed under AFC/PNC.

yuji22 posted:

Guyana has become a Major Money Laundering jurisdiction under the AFC/PNC in just three years

 

Right.... takes a lot of courage to say that, o fearless one.

The US Department of State’s International Narcotics Control Strategy Report (INCSR) Volume Two of March 2018 has listed Guyana, among many other countries, as “major money laundering jurisdictions in 2017”.

yuji22 posted:

The US Department of State’s International Narcotics Control Strategy Report (INCSR) Volume Two of March 2018 has listed Guyana, among many other countries, as “major money laundering jurisdictions in 2017”.

This is what they said in 2013 "The influence of narcotics trafficking is evident in the political and criminal justice systems" o fearless one. Your courage in stating truths is severely deficient.

Nice try but the fact remains:

The US Department of State’s International Narcotics Control Strategy Report (INCSR) Volume Two of March 2018 has listed Guyana, among many other countries, as “major money laundering jurisdictions in 2017”.

Anta's reading and comprehension skills are very poor. Deflection and AFC snake oil will NOT work here.

Please try again.

yuji22 posted:

Nice try but the fact remains:

The US Department of State’s International Narcotics Control Strategy Report (INCSR) Volume Two of March 2018 has listed Guyana, among many other countries, as “major money laundering jurisdictions in 2017”.

 

Anta's reading and comprehension skills are very poor. Deflection and AFC snake oil will NOT work here.

Please try again.

Nice try? For trying to find a reason to compliment your much vaunted courage? You may be correct but I'd like to keep trying.

Then keep trying, you may learn a thing or two.

Yugi you should stop with the false headings you have been doing. I have seen where you and others complain when anyone else does the same. Did that article heading state this laundering has only been going on three years now? Your posts are along the lines of the stupid Trump-et.

yuji22 posted:

Then keep trying, you may learn a thing or two.

True. I've already learned that how fearful and cowardly you are. What else should I look for?

'The report called for more training, education, and resources to improve the fight against money laundering. In its 2018 overview of Guyana, the INCSR posited that “narcotics trafficking and government corruption are the primary sources of laundered funds”. Other issues outlined were human trafficking, illicit gold mining, contraband, and tax evasion.' 

I agree with the above statement, but I think a lack of modern technology infrastructure is a major issue.  Nothing is computerized so how will anyone begin to 'flag' transactions that are suspicious.  And if there is Government corruption where do you begin from to regulate anything.

Guyana

OVERVIEW

Guyana is a transit country for South American cocaine destined for Europe, the United States, Canada,and the Caribbean. Cocaine is concealed in legitimate commodities and smuggled via commercial maritime vessels, air transport, human couriers, or the postal services. Traffickers are attracted to Guyana’s remote airstrips, porous land borders, and weak security infrastructure.

Largely unregulated currency exchange houses, used to transfer funds to and from the diaspora, pose a risk to Guyana’s AML regime. Guyana has made much progress on the AML front, but more training, education, and resources are needed in the future.

VULNERABILITIES AND EXPECTED TYPOLOGIES

Narcotics trafficking and government corruption are the primary sources of laundered funds. However, other illicit activities, such as human trafficking, illicit gold mining,contraband,and tax evasion, are also sources.Common money laundering typologies include: fake agreements of sale for precious minerals used to support large cash deposits at financial institutions; cross border transport of volumes of precious metals small enough to avoid scrutiny by relevant officials and the payment of the relevant taxes and duties; and using middle aged and elderly couriers for cross border transport of large sums of U.S. dollars.

The major agencies involved in anti drug and money laundering efforts are the Guyana Police Force (GPF), Guyana Revenue Authority, the Customs Anti Narcotics Unit, the Special Organized Crimes Unit (SOCU), the Bank of Guyana, the Ministry of Finance, the Financial Intelligence Unit (FIU), and the National Anti Narcotic Agency.The investigative effectiveness of these agencies is limited due to inadequate human resources, insufficient training, and a lack of strong inter-agency cooperation.

The business community’s lack of cooperation also hinders Guyana’s AML efforts.Guyana does not have free trade zones or offshore financial centers. Guyana has one casino.

KEY AML LAWS AND REGULATIONS

Guyana approved the Anti Money Laundering and Countering the Financing of Terrorism Regulations 2015; amendments to the AML/CFT Act in 2015, 2016, and 2017; and Guidelines on Targeted Financial Sanctions 2015.

The Government of Guyana’s Anti Money Laundering and Countering the Financing of Terrorism Act of 2009, Interception of Communications Act of 2008, and Criminal Law Procedure Act are designed to enhance the investigative capabilities of law enforcement authorities and prosecutors. There is also a records exchange mechanism in place with the United States. Guyana has comprehensive KYC and STR regulations. Guyana is a member of CFATF, a FATF regional body.

Its most recent MER can be found at:

https://www.cfatf-gafic.org/in...countries/d-m/guyana

AML DEFICIENCIES

Guyana’s AML regime extends to legal persons and provides for enhanced due diligence for PEPs.Guyana applied for Egmont Group membership in 2011 and, in 2012, received two sponsors.Guyana’s Egmont application is still pending due to new sponsor requirements, and the government is working with regional representatives to identify new sponsors who meet the requirements.

ENFORCEMENT/IMPLEMENTATION ISSUES AND COMMENTS

Guyana ratified the 1988 UN Drug Convention by enacting the Narcotic Drug and Psychotropic Substances (Control) Act of 1988.

The AML/CFT legislation gives the FIU investigative authority into alleged money laundering. In May 2017, the FIU completed its risk assessment and action plan, which guides the government’s national AML strategy. In July 2017, the FIU purchased software to detect illegal financial activities and is in the process of hiring a financial analyst and a legal advisor.

The FIU refers cases to the SOCU, an arm of the GPF, for investigation and has submitted 11 money laundering reports to date. SOCU has launched an investigation of the Guyana Gold Board’s involvement in money laundering for a gold dealer arrested in April and an investigation into a hotel and potential casino operator, whose Surinamese partner was jailed in the Netherlands for money laundering in 2006. In 2017, the government hosted an AML seminar to inform local reporting entities of their obligations and responsibilities under the AML regime.Guyana has made great progress on the AML front but should continue to provide training to increase awareness and understanding of AML laws within the judiciary and agencies with investigative authority for financial crimes.Suspicious activity reporting, wire transfers, and customer due diligence regulations should be strengthened and additional resources given to the FIU and SOCU. Reporting and investigating entities should improve their inter-agency coordination in the future.

Here is the report and link,the Media in Guyana have their own spin.

https://www.state.gov/document...anization/278760.pdf

Like GNI's fearful gone. I was so looking forward to learning a thing or two.

Listen nuh squaddie. That guy so good that he giving lessons in his absence.Watch him tell you that you don't get it. In other news the fearful one looking for someone to shine his shoes.We not good enuff for that.Ask Cain.

Sparky posted:

Listen nuh squaddie. That guy so good that he giving lessons in his absence.Watch him tell you that you don't get it. In other news the fearful one looking for someone to shine his shoes.We not good enuff for that.Ask Cain.

Like Sparky is an old soldier.

AFC PNC got kicked out after just three years of incompetence.