Anti-Money Laundering/Combating the Financing of Terrorism
The Guyana Revenue Authority (GRA) in accordance with the provisions of the AMLCFT Act 2009 was appointed Supervisory Authority for the following sectors:
Class of Reporting Entity
Date of Appointment
|1||Pawnbrokers||Other activity or business subject to the AML/CFT Act||2014-09-08|
|2||Used Car Dealers/Car Parts Dealers||Other activity or business subject to the AML/CFT Act||2014-09-08|
|3||Dealers in real estate (when the persons dealing are involved in transactions for their client concerning the buying and selling of real estate.)||Designated Non-Financial Business or Profession||2014-09-08|
GRA’s Role as a Supervisory Authority
Section 22 of the AML/CFT Act 2009 details the Roles of the Supervisory Authority (SA) as follows:
- Examine and supervise Reporting Entities (REs) and regulate and oversee effective compliance with the AML/CFT Act.
- Issue instructions, guidelines or recommendations and provide training to REs on their obligations and requirements under the Act.
- Conduct onsite compliance visits to inspect premises and documents and observe the manner in which certain functions are undertaken.
- Request and be given information relevant to ML/TF matters from REs.
- Cooperate and share information promptly with other domestic competent authorities or other countries.
- Develop standards and criteria applicable to the communication of suspicious activities.
- Impose requirements that RE shall ensure that their foreign branches and subsidiaries adopt and enforce measures consistent with this Act.
- Submit a report to the FIU, on or before 3 working days, after acquiring any information on any suspicious transactions or activities.
- Maintain statistics concerning measures adopted and sanctions imposed under this Act.
Reporting Entities can contact the Intelligence & Risk Assessment Unit on telephone number 227 6060 extensions 3401 or 3404 for any additional information or assistance in relation to AML/CFT matters.