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Guyana needs to obtain results for the initiatives taken to arrest money laundering and other financial crimes,Supply Cheap Jerseys, said President Donald Ramotar, during his address to participants of the opening ceremony of the Financial Crimes Stakeholders Meeting,Wholesale NFL Jerseys Authentic, yesterday.The venue was the Grand Coastal Hotel,NFL Jerseys Wholesale, Le Ressouvenir, East Coast Demerara.President Donald RamotarHe said that although his administration appreciates the contribution of a robustly functioning anti-money laundering action, there are still areas of deficiencies that need to be addressed.He said that several evaluations have shown the extent to which Guyana has to go, to effectively transform its commitment to achieving results.And to do so, Ramotar said that Guyana in consultation with stakeholders has identified investigation and legislation as the two major areas for focus.According to Ramotar,Stitched Jerseys, in discussions with domestic security professionals, the government has adopted a series of actions destined to ramp up the national capacity to investigate money laundering and other financial crimes.However, there is very little to show for the government’s boasts.According to President Ramotar, the administration is awaiting the completion of matters regarding the 2013 national budget before tabling further legislation to deal with the issue of financial crimes.He welcomed the international support that Guyana has been getting, echoing sentiments made by United States of America Ambassador Brent Hardt, that “only by working in partnership and acting strategically to counter cross border criminal threats can we effectively target the common denominator,wholesale nfl jerseys, the leverage point that allows us to strike at the heart of all criminal organizations and illicit activities…money!”According to Ambassador Hardt, money laundering and other financial crimes are a serious global threat. He told the meeting that jurisdictions flooded with illicit funds are vulnerable to the breakdown of the rule of law, the corruption of public officials and destabilization of their economies.He pointed to the development of new technologies that have exacerbated the challenges faced by the financial,nfl jerseys wholesale, law enforcement, supervisory, legal and intelligence communities.“As a result, no economy is immune from the threat of financial criminal activity,Cheap NFL Jerseys China, and no nation can combat this threat alone,” Hardt said.The Ambassador referred to the United Nations Office on Drugs and Crime (UNODC), which has posited that criminals typically hide illicit proceeds in legal structures such as shell companies or foundations. These companies often undercut and undermine legitimate entities, making it harder for legitimate business to survive and prosper.The ambassador noted that the Caribbean is a primary destination for illicit funds and shell companies. “In fact, the United Nations reports that the Caribbean is the “most important destination for the laundering of cocaine-related income.”“Criminal enterprises are motivated by financial gain. To successfully disrupt narco-trafficking and other criminal enterprises and prosecute perpetrators, an effective anti-money laundering/financial crimes regime is essential.“Likewise, terrorist organizations find it much more difficult to operate if they can’t move their money. By disabling the capacity of criminal and terrorist organizations to launder the proceeds of crime and access their ill-gotten gains, we can ensure that crime doesn’t pay,” the Ambassador stated.According to Ambassador Hardt, in recent years, American experts alone have shared their experience and knowledge with over 100 countries. It is hoped that these collective efforts will, over time, build capacity in jurisdictions where it is lacking.“Our deliberations will be further enriched by representatives from the United Kingdom’s Caribbean Criminal Assets Recovery Program (CCARP). CCARP is likewise actively engaged with the Government of Guyana in boosting capacity to conduct financial crimes investigations. It is currently developing its action plan with the Government and providing funds and expertise to draft legislative amendments that will bring Guyana into compliance with Caribbean Financial Action Task Force (CFATF) standards.The Government of Canada will also be providing assistance to Guyana’s Financial Intelligence Unit (FIU) under its Deployment for Democratic Development (DDD) Program,” the US Ambassador revealed.