REPUBLIKA.CO.ID, JAKARTA -- Bank Indonesia (BI) and National Police cooperate on foreign currency and payment protection system. Both will work together to fight the criminal potential in this sector after the signing of a Memorandum of Understanding (MoU) on September 1, 2014.
BI's deputy governor, Ronald Waas said that BI and the National Police signed a guidelines in handling the allegations of criminal offenses in payment system, including funds transfer, tool credit card payment, electronic money and Rupiah currency processing services.
"Currency exchange is one of businesses that is prone abused," Waas said on Wednesday.
According to him, the law enforcement on foreign exchange business is very important. Money laundering and terrorist financing, narcotics trade, up to smuggling activity are examples of violations. These transactions can be disguised as form of foreign currency exchange business.
BI has the authority to regulate and give the permit, as well as to supervise the operation and services in payment system. On the other hand, the police act as law enforcement and prosecuting those responsible for violations.
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