Guyana

Technology risk management expectations for licensed financial institutions, issued in January 2024 under the Financial Institutions Act 1995. Applies as appropriate to all licensed financial institutions, with implementation in proportion to size, risk profile and business model.

Guidance to licensed financial institutions on AML/CFT compliance, including the duties of the compliance officer, customer identification and suspicious transaction reporting. Issued on 28 June 2013 under s. 22(2)(b) of the AML/CFT Act 2009 and reg. 19(1) of the 2010 Regulations; the Bank's guidelines page records amendments in 2023.

Establishes the Financial Intelligence Unit, sets preventive duties for reporting entities, and provides for the freezing, seizure and forfeiture of proceeds of serious offences and for civil forfeiture. Amended by Acts of 2010, 2015 (two), 2016, 2017, 2018, 2022 and 2023.

Requires anyone running a money transfer business to hold a licence from the Bank of Guyana (s. 3(1)). Licensees may appoint money transfer agents, who must be registered with the Bank before acting. Published in the Official Gazette on 14 August 2009.

Revises and amends the law relating to the Bank of Guyana, which section 3(1) makes an autonomous institution governed by the Act. Assented to on 31 December 1998 and brought into operation on a date set by ministerial order. The Bank lists amending Acts No. 21 of 2004 and No. 14 of 2018.

Provides for the registration of securities, brokers, dealers, certain self-regulatory bodies and certain issuers, and for the regulation of securities offerings. Section 4 establishes the Guyana Securities Council. Assented to on 31 December 1998. The Council lists eight sets of subsidiary regulations, including registration of market participants and conduct of business.

Establishes the Integrity Commission, requires persons in public life to declare income, assets and liabilities each year, and sets a Code of Conduct. Section 22 sets a fine and imprisonment on summary conviction for failing without reasonable cause to file, or knowingly filing a false or incomplete declaration. Assented to on 24 September 1997.

Provides for the licensing of persons buying and selling foreign currency. Applications go to the Bank of Guyana (s. 3), licences expire on 31 December each year unless renewed (s. 5), and s. 8 lets the Bank revoke a licence after giving the licensee a chance to be heard. Amended by Act No. 9 of 1995.

Penal provisions including obtaining by false pretence (s. 194), fraudulent misappropriation of property (ss. 197-201), frauds relating to companies (ss. 202-205), falsification of accounts by an officer, clerk or servant (s. 208), and bribery and corruption of public servants (ss. 332-337).