The Economic and Social Implications of the Anti-Money Laundering and Countering the Financing of Terrorism Act on a Small, Developing Economy

Richard Rambarran

MPRA Paper from University Library of Munich, Germany

Abstract: This paper seeks to critically examine the likely economic and social implications of the recent amendments to the ‘Anti-Money laundering and countering the Financing of Terrorism (Amendment) Act 2015’ (AML-CFTA 2015 Act) on a small, developing, open economy, Guyana. This paper examines the amendments to original 2009 Bill and whether this new act, given the complexities of the small, developing country, would serve to promote the best economic interest of its people who, are at critical juncture of their national development. The paper serves to hypothesize and examine not only macroeconomic implications, but also microeconomic behaviour, and the implication on the behaviour of agents within society directly and indirectly affected by this bill.

Keywords: Anti-Money laundering; Terrorism; Narco-trafficking; Growth; Crime; Development; Guyana (search for similar items in EconPapers)
JEL-codes: D72 D73 K14 K22 K42 (search for similar items in EconPapers)
Date: 2015-11-15
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:68056

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