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:

No.

Reporting Entities/Activities/Businesses

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.

Intelligence Hotline

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.