Money-Laundering not in recess

Amaila Update
Late on Friday evening, Mr. Winston Brassington, the Government’s point man in the Amaila Falls Hydroelectric Project (AFHP) announced that Sithe Global was exiting the project. Later that evening the President was reported as stating his Government would continue working to bring the Project to reality. Sithe would only say that it would issue a statement on Sunday August 11.

Meanwhile I had an initial but extensive engagement on Tuesday with Mr. Brassington, his two Amaila technical advisers and Mr. Kit Nascimento, PR agent of Guyana Power & Light Inc. on the scores of concerns I have had with the project. At the end of that session we agreed to meet again and in anticipation of that further meeting I sent a number of questions to Mr. Brassington. I had given an undertaking that I would reserve further statements on the project pending the meeting with Mr. Brassington and his team. Accordingly I am withholding any comments on the announcement of Sithe’s withdrawal from the project.

Introduction
The National Assembly has gone into recess leaving further consideration of the Anti-Money Laundering and Countering of Financing of Terrorism (Amendment) Bill before the Special Select Committee of the National Assembly until at least early October. The logic it seems is that if the deficiencies in the Act could have waited a year or two what harm can a couple of months do? Perhaps illogically, the answer is “a lot”. Trading blame by the various sides in the National Assembly does nothing to assuage the Caribbean Financial Action Task Force (CFATF), of which Guyana is a member, about Guyana’s consistent non-compliance with its obligations to have the appropriate legislative framework in place, supported by a strong regulatory body to oversee relevant bodies and enforce the legislation.

That the government has failed massively on each of these measures has not restrained the language used by Dr. Ashni Singh, Minister of Finance to describe the conduct of his colleagues on the opposite side in the National Assembly. In March this year, he described the AFC as “shamelessly irresponsible” accusing it of holding the nation “hostage” to derive concessions on, in his view, the small matter of the Public Procurement Commission. Of course many Guyanese regard the establishment of the Commission not only as a constitutional imperative but as a critical governance and anti-corruption matter. Now, as members of the National Assembly shut shop and head for their summer vacation their decision is being described as “unconscionable”.
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Written Submission to the Select Committee on the AML+CFT (Amendment) Bill 2013

Guyana’s managing of anti-money laundering activities has not been encouraging. A SN editorial to mark the third anniversary of the Money Laundering (Prevention) Act 2000 since its enactment described it as a “bear in hibernation”. Yet, the list of persons who pronounced on the Act at various stages included then Finance Minister Sasenarine Kowlessar who after the act’s assent announced that no decision had been made as to who would supervise the act; then President Jagdeo, who one year after the act was passed said no funds had been budgeted for its implementation; then Director of Budget Dr. Ashni Singh who pronounced that “money-laundering could have significant influence on currencies, market prices and financial stability”; then Home Affairs Minister Gajraj who in discussing money-laundering spoke of non-working millionaires and the “Siamese twins of the narcotics scourge”; his successor Ms Gail Teixeira who called on consumers to boycott drug lords’ businesses; and Commissioner General Khurshid Sattaur who had announced that GRA’s software would pinpoint money launderers.

Not only did such high level politicians and executives address their minds to money-laundering, the Cabinet in 2001 established a special task force under Dr Roger Luncheon to oversee the implementation of the Act. The report of that special task force, even if not updated, can help to accelerate the work of the Select Committee.
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