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A Partnership for National Unity (APNU) and Government collectively failed Guyana,Wholesale MLB Jerseys 2018, which led to the country being blacklisted by the Caribbean Financial Action Taskforce (CFATF), as the Alliance for Change (AFC) had made a reasonable offer in order to lend its support to the Anti-Money Laundering and Countering the Financing of Terrorism Bill.GCCI President Clinton UrlingThis is the view held by President of the Georgetown Chamber of Commerce and Industry (GCCI), Clinton Urling, who was at the time weighing in on the news that Guyana has been blacklisted.Urling was quick to point out that the Financial Action Task Force (FATF) or CFATF “do not have judicial authority to impose any penalty on any country”and as such being blacklisted “does not have any teeth”.He said what would happen is that CFATF or FATF would issue warnings to its member countries (including the United States of America) about the risks involved with doing business with a blacklisted country. The member countries would then instruct companies in that jurisdiction to take counter measures and increase scrutiny.“Blacklisting itself has no direct teeth,Cheap NFL Jerseys China, it is the indirect action taken by member countries,” Urling explained. He said that while some banks would undertake to put measures in place to increase scrutiny of the transactions, others would just opt to terminate their relationship.“We are back to square one. The only way to get off the blacklist is to have the legislation passed.”Urling said that while APNU holds a “ridiculous position” of not wanting to budge or be flexible, the AFC had a very reasonable offer in asking that the President establish the Public Procurement Commission.According to Urling, the only way the legislation will be passed is through political compromise and concessions.It was reported that Guyana faced certain blacklisting by CFATF when the political opposition had rejected the amendments to the Anti-Money Laundering and Countering the Financing of Terrorism Bill.The report of the Special Select Committee that was tasked with consideration of the amendments was presented to the House by Government’s Chief Whip and Chairperson of the Committee, Gail Teixeira,NBA Jerseys China, much to the displeasure of the political opposition, who wanted the report recommitted to the Committee for work to be done on it.Government at the time contended that the Opposition had delayed and dragged its feet during the six months the Committee existed. Teixeira told the House that over that course of time, the Committee met on 17 occasions, most of which the opposition were poorly represented or absent altogether.APNU’s point man on finances, Carl Greenidge,Wholesale NFL Jerseys, at the time argued that the Government had reneged on agreements in the Committee,Cheap Jerseys From China, and as such, the coalition wanted the Bill recommitted.Attorney General and Minister of Legal Affairs Anil Nandlall was forced to put the Bill to a vote, and it was promptly greeted with a resounding “no.” This led to a division of the votes which resulted in a 33/28 outcome.INTERNATIONAL STANDARDSCFATF is an organisation of 29 jurisdictions of the Caribbean Basin Region which have agreed to implement the international standards for Anti-money Laundering and Combating the Financing of Terrorism and FATF Recommendations.In order to protect the international financial system from money laundering and financing of terrorism risks and to encourage greater compliance with the anti money laundering standards,Wholesale Jerseys, the CFATF identifies jurisdictions that have strategic deficiencies and works with them to address those deficiencies that pose a risk to the international financial system.Jurisdictions with strategic deficiencies that have not made sufficient progress in addressing the deficiencies or have not complied with their Action Plan developed with the CFATF are called upon to address these deficiencies.