Private Sector Commission

SARU Involvement

         Press Release


January 28. 2016


The Private Sector Commission is alarmed to learn that the State Assets Recovery Unit (SARU) is involved in money laundering investigation of a major financial institution per a headline in the Kaieteur News of Wednesday, January 6, 2016.  It is our understanding that the mandate of the Unit is to investigate and recover assets belonging to the state.  We are also aware that this unit is operating outside of any known laws in Guyana.


The PSC is only aware of the role of the Financial Intelligence Unit, the Special Organised Crime Unit and the Bank of Guyana in anti-money laundering investigations.  The PSC is calling for a clarification on why SARU is involved in such an investigation and not SOCU or the FIU.


In addition, it seems clear that the damage being done to one of the foremost banking institutions in Guyana by such an unsubstantiated release could lead to erosion of foreign and local investors’ confidence.  This could be damaging to our economy.

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