Attorney General Anil Nandlall says Guyana is moving quickly to overhaul its anti-money laundering and countering the financing of terrorism (AML/CFT) laws as the country faces growing challenges from organised crime, terrorist financing and money laundering.
Speaking at the opening of the Partnership of the Caribbean and the European Union on Justice (PACE Justice) Regional Programme Judicial Training on Criminal Trials and Appeals on Monday, Nandlall said a new, comprehensive AML/CFT bill is already in the works.
He explained that while the current law is not flawed, it has been amended repeatedly over the years.
“Not that the one that we have is bad, but we have cut and paste over the years so many things that it reads in a disjointed way and it can cause problems in terms of interpretation,” Nandlall said.
He added that changes in global standards also make it necessary to update the legislation.
A consultant has already offered their services and is currently working on drafting the new bill, which will replace the existing one.
The push comes as Guyana prepares for a mutual evaluation exercise in 2027. Nandlall said the country has already started getting ready.
He noted that in the last assessment done in 2024 by the Caribbean Financial Action Task Force, Guyana scored the highest among independent Caribbean territories, giving it a strong foundation.
Still, Nandlall stressed that the legislation must be revamped.
He also urged judges to fully appreciate the scope of the AML/CFT laws, describing them as wide-ranging and powerful.
“The offences there are not an ordinary run of the mill offences. They are broad in their embrace. Money laundering is possibly one of the widest offences on the statute books,” he said.
Further, the Attorney General pointed out that the laws give authorities strong powers, including detention and forfeiture even before a conviction.
“The powers conferred are indeed intrusive and can be evasive when you compare them with ordinary legislation,” he said, while noting that these powers must not conflict with the Constitution.
Nandlall emphasised that these laws are not created in isolation, but are based on international guiding principles set by global organisations that monitor financial crimes and regulatory systems around the world.
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