Summary
This document is a guide on the Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations in Guyana. It outlines the legal framework established to combat money laundering and terrorist financing, detailing the rights and obligations of individuals and entities involved in these processes. The guide includes definitions of key terms such as Client, Customer, and Politically Exposed Person (PEP), and describes the necessary identity verification requirements for compliance. It presents the due diligence methods that can be employed, including document verification and enhanced due diligence measures for high-risk customers. The document also specifies the types of identification and address verification documents required, the timing of verification processes, and the regulations surrounding the retention of records for compliance purposes. Additionally, it discusses the option to rely on external services for due diligence while emphasizing the client's ultimate responsibility for compliance with AML and KYC obligations.
