According to Section 5 (1) The Guyana Anti-Money Laundering and Countering the Financing of Terrorism Act No. 3 of 2000 it is an offence for a person who knows or suspects that a suspicious transaction report or related information is reported to the FIU, or that an investigation into money laundering, terrorist financing, or the proceeds of crime has been, is being or is about to be made, to divulge that fact or other information to another whereby the investigation is likely to be prejudiced.
(2) A person who commits an offence under subsection (1) is liable to summary conviction to a fine of one million dollars and to imprisonment of 3 years.
The rationale is to prevent the sharing of confidential information about a SAR/STR that was submitted to the Financial Intelligence Unit being shared in the public domain. If the subject of the SAR/STR learns that a report was filed against them. They may flee the jurisdiction or destroy evidence.
About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP, Bar No. SYA2015211, Attorney at Law. The author is the first Online Lawyer based in Trinidad and Tobago. Her entire Law Practice is based Online using technology. Client meetings are conducted at mutually convenient meeting points. She has clients in Guyana, St Vincent, Barbados, the British Virgin Islands and North America. She specializes in Corporate Law and Anti-Money Laundering Compliance. She helps clients to start their Online Business Empire.
About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP, Bar No. SYA2015211, Attorney at Law. The author is the first Online Lawyer based in Trinidad and Tobago.. She has clients in Guyana, St Vincent, Barbados, the British Virgin Islands and North America. She specializes in Corporate Law and Anti-Money Laundering Compliance. She helps clients to start their Online Business Empire.
ANTOINETTE SYDNEY LAW OFFICE: MONTROSE MAIN ROAD CHAGUANAS, TRINIDAD AND TOBAGO
Consultation fee is $300 TTD per hour.
I am a Certified Professional in the following areas:
Anti-Money Laundering and Financial Crimes;
Fraud Risk Management;
Anti-Money Laundering (AML) Training for staff, directors;
Anti-Money Laundering Audits;
Compliance Program drafting;
Consulting services and much more.
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Ebooks on Sale:
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- How to Change the name of a Limited Liability Company
- How to Dissolve a Limited Liability Company
- How to Register an External Company
- How to prepare Annual Returns for an External Company
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