AMLCFTAnti Money Laundering and Combating the Financing of Terrorism
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The recommendations of FATF are to be deemed as international standards for steps necessary to control AMLCFT.
To correct noted deficiencies, Guyana passed the Anti-Money Laundering and Countering the Financing of Terrorism Regulations 2015; issued the Guidelines on Targeted Financial Sanctions 2015; and completed amendments to the AMLCFT Act in 2015 and 2016.
These regulations have been developed in line with the international recommendations such as those issued by Financial Action Task Force (FATF) to minimize the AMLCFT risks associated with the prepaid cards by covering relevant aspects such as issuance of Prepaid Cards, permissible load limits, restriction on use, dispute resolution and consumer protection besides covering other operational areas.