返回列表 回復 發帖

Jordan Shoes Australia Online

The Parliamentary Select Committee one year after receiving the Money Laundering and Anti Terrorism Bill for review before it is returned to the National Assembly for debate and eventual passage is now making headway towards completing the process.The committee has requested through media adverts the public’s contribution, oral and written, on the critical piece of legislation.After meeting for the first time in June last year to elect a chairman of the committee which was tasked with examining the various clauses in the Money Laundering and Anti Terrorism Bill, this is the second sign of progress.Alliance for Change (AFC) leader, Raphael Trotman had previously condemned the slothfulness with which the committee is progressing, saying,Cheap Adidas Shoes From China, “It is very impressive to the international community to say that the Bill is at the select committee when in fact nothing is actually being done.”A select committee takes charge of a Bill after it was laid for the first time in the National Assembly and examines the various clauses to ensure that there are no conflicts or contentious issues.The Anti-Money Laundering and Countering the Financing of Terrorism Bill was first laid in the National Assembly in June last year and sent to a Special Select Committee for review, before debate.Attorney General and Minister of Legal Affairs, Doodnauth Singh presented the bill to the House,Cheap Air Max Online Ireland, which seeks to prevent money laundering, the financing of terrorism, and to allow for the civil forfeiture of criminal assets.The legislation, when enacted, is expected to provide for oversight of export industries, real estate, alternative remittance systems and other financial institutions.Among others, the bill provides that the Director of Public Prosecutions (DPP) may apply to the High Court for a restraining order against any realisable property held by the accused or specified realisable property held by a person other than the accused in both a money laundering or terrorism case.In relation to terrorism, the bill seeks to empower a police or Customs officer where he has reasonable grounds to suspect that any cash is intended to be used for the purposes of terrorism, or belongs to or is held in trust for a terrorist organisation or represents property obtained through acts of terrorism, to seize the cash.The DPP may also apply to the High Court to freeze any account or other property held by any person on behalf of a terrorist or terrorist organisation.The bill also sets out procedures in relation to request from another agency or another country.In connection with property that directly or indirectly constitutes proceeds of crime and the value is not less than two million dollars, the Court may make an interim order prohibiting the person from disposing of or diminishing its value during the period of fifty-six days from the date of making the order, the bill outlines.It seeks to empower a High Court judge to make a restraining order prohibiting the respondent or any other specified person or any other person having notice of the order from disposing of the property unless otherwise instructed.The bill also provides that money laundering and terrorist financing are offences for the purposes of the law relating to extradition or the rendition of fugitive offenders.Of significance, the bill provides that all moneys derived from the fulfillment of forfeiture and confiscation orders contemplated in the Act shall be paid into the Consolidated Fund.In 2000, Guyana passed the Money Laundering Act 2000,Air Max 270 Wholesale Australia, but it was believed to be riddled with loopholes that prevented the Financial Intelligence Unit (FIU) established under the Act from carrying out its mandate.Crimes covered by the Money Laundering Prevention Act include narcotics trafficking, illicit trafficking of firearms, extortion, corruption, bribery, fraud, counterfeiting,Wholesale Authentic Jerseys, and forgery. The law also requires that incoming or outgoing funds over US$10,Cheap Nike Air Max Wholesale Uk,000 be reported.The new legislation is generally intended to track money transfers, and activities of commercial banks and other financial institutions. It will also tackle the financing of terrorist organisations.It is also slated to complement the work of the Financial Intelligence Unit (FIU), which has received major criticisms from the United States since it came into operation in 2003.A final draft of the legislation was completed but, because it was handed over about two-weeks prior to the dissolution of Parliament, in April 2006, the legislation could not have been passed.The existing Money Laundering Prevention Act of 2000 establishes the Guyana Revenue Authority, the Customs Anti-Narcotics Unit, the offices of the Attorney General,Cheap Hydro Flask Sale, and Director of Public Prosecutions, and the FIU as the authorities responsible for investigating money laundering crimes.More importantly, the legislation will bring Guyana in line with the “40 + 9 Recommendations” of the Financial Action Task Force (FATF), an inter-governmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing.The FATF is a “policy-making body” created in 1989 that works to generate the necessary political will to bring about legislative and regulatory reforms in these areas.The FATF monitors members’ progress in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures, and promotes the adoption and implementation of appropriate measures globally.The FIU was supposed to have investigated cases of money laundering and alert the Police, but according to the US, drug trafficking and money laundering appear to be benefiting Guyana’s economy, particularly in the construction sector.The 2007 US Drug Report on Guyana noted that Guyana is neither an important regional nor offshore financial centre, nor does it have any free trade zones.The scale of money laundering is thought to be large, relative to the size of the economy, with some experts estimating that the informal economy is 40 to 60 percent of the size of the formal sector.The report said that investigating and prosecuting money laundering cases is not a priority for law enforcement.According to the report, the lack of adequate legislation and resources has resulted in the Government of Guyana making no arrests or prosecutions for money laundering in 2006.
返回列表