Indonesia
Last Updated: 14/07/2008 (Anti-money laundering legislation not applicable to lawyers)In 2007, Indonesia developed an anti-money laundering and combating the financing of terrorism system.
It also established a Financial Intelligence Unit - Pusat Pelaporan dan Analisis Transaksi Keuangan (PPATK), also known as the Indonesian Financial Transaction Reports and Analysis Center (INTRAC), and a system for reporting suspicious transactions. (1)
The Indonesian anti-money laundering regime consists of the following laws:
- Law No. 15 of 2002 on Money Laundering Crimes (as amended by Law No 25 of 2003) (the Money Laundering Law).
- Law No 15 of 2003 on Stipulation of Government Regulation in lieu of Law No.1 of 2002 on Combating Criminal Acts of Terrorism as Legislation.
- Bank of Indonesia Regulation No.3/10/PBI/200, as amended by BI Regulations No.3/23/PBI/2001 and No.5/21/PBI/2003 on Know Your Customer Principles.
Indonesia was removed from the FATF blacklist in February 2006. It had been on the blacklist since 2001. Indonesia is not a member of the FATF.
In 2008 Indonesia produced draft AML legislation that, if implemented in its draft form, will extend reporting requirements to lawyers. It will also provide more severe sanctions for those who violate the act. (2) The draft law is currently being deliberated before a Commission of the House of Represenatives. (3)
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Sources
The Money Laundering Law: Law No. 15 of 2002 on Money Laundering Crimes, amended by Law No 25 of 2003.
Combating Criminal Acts of Terrorism Legislation: Law No 15 of 2003 on Stipulation of Government Regulation in lieu of Law No.1 of 2002.
- Saibal Dasgupta, “Jakarta plans to grant FIU investigatory powers”, 02 April 2007, www.complinet.com.
- David Holme, Delphine Loo, and Yolanda Hutapea “Jurisdiction update: Indonesia”, 16 April, 2008, www.complinet.com.
- Dicky Christanto in the Jakarta Post, "Agency awaits anti-money laundering bill," 14 July 2008, retrieved from www.complinet.com.
