Private sector sets up system to share info on smuggling with government

Last Updated on Thursday, 26 September 2024, 21:22 by Writer

PSC Chairman, Komal Singh addressing the conference on illicit trade.

Guyana’s business community and the government have begun clamping down on smuggling of alcoholic products, cigarettes and chicken, among other products due to unfair competition, authorities said Wednesday.

Chairman of the Private Sector Commission (PSC), Komal Singh told an Illicit Trade Conference that the market share that several of those smugglers were currently capturing exceeds 25 to 50 percent in some of the areas. He feared that if nothing was done to stamp out smuggling, the number would rise.

He said the PSC has established an Illicit Trade Desk to gather and process information 0n smuggling and pass it on to the enforcement agencies.

Home Affairs Minister Robeson Benn hoped that the Illicit Trade Desk would provide data on trends of involvement.

GRA’s Comptroller Customs Excise and Trade Operations, Rohan Beekhoo said anti-smuggling operations have increased to go after alcohol, beers, tobacco, cigarettes and chicken. He said the “intel and risk management” operations were being done with international support as well as assistance from the Customs Anti-Narcotics Unit, Guyana Police Force and the Guyana Defence Force Coast Guard. Mr Beekhoo appealed to the business community to provide intelligence confidentially so that action could be taken against smugglers.

He noted that the GRA was hiring more staff, training customs brokers about the proper rates and classifications for imports.

Despite the enforcement agencies’ efforts, he said there were new trends such as smuggling gold disguised as jewellery which have implications for money laundering.

Director of the Financial Intelligence Unit, Matthew Langevine

Director of the Financial Intelligence Unit (FIU), Matthew Langevine said four of 20 offences -smuggling, tax evasion, illicit trade in narcotics and fraud – carry the highest threat of money laundering. “You’ll recognise that all four of these offences may have a direct or indirect link to illicit trade,” he told the conference.

He said there were 180 suspicious transaction reports from reporting agencies over the past four years of which not more than 10 percent of those referrals were associated with illicit trade such as smuggling.

Mr Langevine asked the reporting agencies to provide information to the FIU on a timely basis and “we are committed to dealing with it professionally and effectively with the assistance of all our stakeholder agencies.” The FIU officer said anyone could lodge a report with his agency which is affiliated with the Caribbean Financial Action Task Force and the Guyana Financial Action Task Force.

FIU generates suspicious reports from banks and non-bank institutions such as insurance agencies, designated dealers in precious minerals and stones, auto dealers, accountants and lawyers. Depending on the probe, those are referred to the Guyana Police Force’s Special Organised Crime Unit, Guyana Revenue Authority, and the Guyana Gold Board.