Money laundering continues to pose a significant threat to Guyana’s economy and governance says the United States Department State in its 2025 International Drug Control Strategy Report.
The recently released report underscored that many interlocutors consider the underpaid and under-resourced Guyana Police Force the weak link in Guyana’s Anti Money Laundering enforcement program.
According to the report, often linked to corruption and organized crime, money laundering in Guyana has grown into a systemic issue involving both public officials and private citizens. Guyana’s location within South America, the presence of drug trafficking routes, and its cash-dependent economy also make it susceptible to illicit money flows.
The State Department report explains that the country’s anti-money laundering infrastructure, while improving, continues to face challenges due to limited technological resources, weak oversight, and a lack of transparency in public procurement processes.
The report mentioned that June 2024, sanctioning of the Mohameds –the country’s largest gold exporters and Permanent Secretary Mae Thomas – a senior government official for bribery and manipulating export records to avoid paying government in excess of US$50 million in taxes between 2019 and 2023.
Also mentioned in the report are four persons before the courts charged with attempting to smuggle large amounts of gold out of the country.
The charges brought by the Special Organised Crime Unit said the four attempted to smuggle approximately 240 ounces of virtually pure gold valued at over $560,000 disguised as silver-plated jewelry without having the necessary permits. The matter is still before the court as the four are on bail.
Guyana’s most recent anti-money laundering/combating the financing of terrorism national risk assessment was finalized in July 2021, and Guyanese officials rated Guyana’s money laundering risk as medium-high.
The US State Department report said experts assess that dealers in precious minerals and traders licensed to export are highly vulnerable to money laundering; used car dealers, banking and building societies, and money transfer agencies are also identified as vulnerable. Gold smuggling in Guyana often facilitates money laundering, as criminals use illegal gold sales to disguise illicit funds, bypassing regulations.
The U.S. report urged Guyana to increase oversight in high-risk sectors and enhance transparency in financial operations. It also called for more training and resources for the police and financial regulators, warning that failure to do so could further undermine the country’s ability to curb money laundering and financial crime.