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SOCU seizes more than GYD$16 M, two arrested

Guyana’s anti-money laundering agents seized more than GYD$16 million from a house in East Coast Demerara and two persons have been arrested, according to police and well-placed sources.

The cash seized includes almost US$80,000, GYD$1 million and Trinidad and Tobago dollars.

Sources said operations were carried out at East Bank Demerara and East Coast Demerara, but the cash was seized at locations on the East Coast Demerara.

The Guyana Police Force, in a statement, said agents of its Special Organised Crime Unit (SOCU) Friday morning, 5th February, 2016 conducted operations at four locations.

“During the operation a significant sum of foreign and local currencies was found at two of the locations and detained pending further investigations into money laundering,” the Guyana Police Force said in a statement.

Those arrested, sources said, say they are business persons.

Guyana’s Anti-Money Laundering and Countering of Financing Terrorism Act criminalizes the possession of US$10,000 or more without good reason.

Police or customs officials have been empowered to seize currencies at any location within Guyana, in addition to ports of entry and exit.

  • Emile_Mervin

    SOCU cannot go into a house and seize money, unless armed with a search warrant to seize money proven to be used in money laundering exercises. If a person is caught on the street with amounts in excess of what is legally allowed, then I can see the reason for seizure.