REPUBLIKA.CO.ID, JAKARTA – Indonesia to join Financial Action Task Force (FATF). It would cooperate with international communities to combat money laundering and terrorism funding.
In a plenary meeting in Valencia, Spain on Friday (June 23), FATF’s president, supported by majority members, decided to precede Indonesia as FATF’s new member.
Through an official press release, Financial Ministry stated it was an achievement after intensive lobby by Indonesian delegation, consisted of the representatives of Financial Ministry, Foreign Ministry, Indonesian Financial Transaction Reports and Analysis Center (PPATK), Indonesian Embassy to Madrid and Permanent Mission of the Republic of Indonesia (PTRI) Geneva.
Head of Communication and Information Services Bureau of Financial Ministry Nufransa Wira Sakti said the discussion was started on FATF Plenary Meeting in Argentina on October 2017. Support to Indonesia to precede its membership came when FATF President Juan Manuel Vega-Serrano sent an official letter on June 29 to Indonesian Financial Ministry.
The ministry said Indonesia was unanimously supported by 37 members of FATF.
FATF was a cooperation forum for the countries aimed at making global standard for the regimes supported anti-money laundering and terrorism funding and many other international financial system threats.
Nufransa said Indonesia is a big economical power of the world and a member of G-20. It should be participated in global strategic policy making to decide international financial system.
The government argued that Indonesia some positive values, such as significant development on regulation, coordination and implementation on anti-money laundering and terrorism funding.
Indonesian had a number of regulations, such as Law No. 8 in 2010 on Prevention and Eradication of Money Laundering, Law No. 9 in 2013 on Prevention and Eradication of Terrorism Funding and common rules on proliferation of mass destructing weapons. In the international level, Indonesia was an active member of the Egmont Group and Asia-Pacific Group on Money Laundering (APG) and joined a number of cooperation with Financial Intelligence Unit (FIU) Indonesia and other countries.
“Indonesia contributes to international communication by formulating the first Regional Risk Assessment on Terrorism Financing in the world, initiating National Risk Assessment on Money Laundering/Terrorist Financing and formulating the first AML/CFT Perception Index in the world," said Nufransa.
Financial Ministry asserted to meet all the requirements needed, including the process of Mutual Evaluation Review (MER) to prove its obedience to anti-money laundering and terrorism funding regimes, involving 15 ministries and related institution to complete the requirements of MER on November 2017.
"By the membership of FATF, our country will be equal to the developed countries in actively combating money laundering and terrorism funding,” Nufransa said.
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