FUNCTIONS OF THE GAMING AUTHORITY
The functions of the Gaming Authority as a Regulatory body in keeping with the Gambling Prevention Act, Cap 9:02 (As Amended by The Gambling Prevention (Amendment) Act No. 5 of 2007, and under the Gambling Prevention (Establishment of Gaming Authority) Regulations 2008 are as follows:
- Issuance of Licenses under Section 32 of the Act.
- The monitoring of Casino Operators in Guyana.
- The administration of regulations made under the Act.
- Advising the Minister with respect to the administration of the regulation and any other relevant matter.
As a Supervisory body under Sections 22 and 23 of the AML/CFT Act 2009, Amendments and Regulations, the Gaming Authority has been given Supervisory Authority over the following reporting entities:
- Betting Shops
- To ensure that due diligence were conducted on all applicants for licences to determine whether the applicant (s) is/are fit and proper to be issued licences.
- To ensure compliance by Gaming Operators, in keeping with the requirements of Sections 15, 16, 18, 19 and 20 of the AML/CFT Act 2009, Amendments and Regulations thereof.
AML/CFT RESPONSIBILITIES TOWARDS REPORTING ENTITIES
Examine and supervise the reporting entities and regulate and oversee compliance with the obligations of the reporting entities as set out in sections, 15, 16, 18, 19 and 20 of the AML/CFT Act 2009
To issue instructions, guidelines or recommendations to the reporting entities
To develop standards and criteria applicable to the reporting of suspicious activities that reflects national and internationally accepted standards
Impose requirement that foreign branches or subsidiaries of the reporting entity as is permitted, adopt and enforce measures consistent with the Act and where they are unable to do so, have the reporting entities so report in writing to the Authority.
SANCTIONS FOR BREACH OF OBLIGATIONS
- Written warning
- Order Reporting Entities to comply with specific instructions
- Order regular reports from the Reporting Entities on the measures being taken
- Prohibit convicted persons from employment within the Gaming Sector
- Recommend to the appropriate Licencing Authority of the Reporting Entity that the Reporting Entity’s licence be suspended, restricted or withdrawn.