New AMLCFT Supervisory Guidelines for Fintech Businesses in Guyana – Why now?
On 28 February 2026, an AML/CFT/CPF Supervisory Guideline (SG) for Payment Service Providers (PSPs) was published by the Bank of Guyana(BOG). What is interesting about this, is the fact that this is a complete replacement of an existing guideline from 17 March 2023, which begs the questions – Why replace it? Why now?
What are PSPs?
PSPs in Guyana are companies that provide financial services with a tech element that usually entail, cash deposits and withdrawals, execution of payment transactions, issuing or acquisition of payment instruments, the provision of money transfer services. These companies usually provide an easier sign up process than a traditional financial institution, while still adhering to money laundering and other criminal screening processes. As such they are popular choice for small businesses.
The publicly available list on Bank of Guyana’s website list Mobile Money (Guyana) Inc and Kanoo (Guyana) Inc., notably missing from the list available on the BOG webiste is Be!Payments who has done a lot of press interviews in 2025 indicating that they are licensed to provide these services.
Why replace the guideline?
After a review of the SG, the reason for the replacement seems to be the lack sufficient provisions requiring internal management and implementation of the AML/CFT/CPF policies and procedures. The new guideline is very detailed on the role, responsibilities and policies that must be created and implemented by the Board of Directors and Senior management of PSPs. Including much more detailed provisions for Board control of Compliance officers and Know your Employee provisions.
The focus of this guideline seems to have a greater internal threat focus, while still expounding on the external threat that customers pose with fraud of Money Laundering schemes.
The fact of its publication suggest that PSP internal controls have not been strong enough, causing the BOG as the regulatory of the Fintech industry to tighten up weaknesses.
