PPATK Says Indonesia's Entry Into FATF Is Not Just A Style, But...

Illustration-(Photo: DOK ANTARA)

JAKARTA - President Joko Widodo officially signed Presidential Decree (Keppres) Number 14 of 2024 concerning the Determination of Indonesian Membership in the Financial Action Task Force (FATF), Friday, April 5, 2024. This follows up on the results of the FATF Plenary Meeting in Paris, France led by the President of FATF, Mr. T. Raja Kumar on Wednesday, October 25, 2023 at 17.50, which officially declared Indonesia acclamation accepted as a member of the 40th FATF. PPATK head Ivan Yustiavandana said this was an international recognition of the effectiveness of regulations, coordination and implementation of the anti-money laundering regime, prevention of terrorism financing, and the proliferation of weapons of mass destruction (PPSPM PPPPT) in Indonesia. With the signing of this Presidential Decree, Indonesia has a legal basis to actively contribute to various strategic activities organized by FATF. “ With the signing of the document, Indonesia's commitment to the global arena has further strengthened Indonesia's commitment to participate in the fight against various global financial crimes that are increasingly growing and we need to prevent and eradicate as early as possible, ” Ivan in an electronic message received in Jakarta, April 8. With this Presidential Decree, Ivan continued, Indonesia can start actively participating in various strategic programs and activities carried out by FATF. " “ Various global forums held by FATF must be followed as a manifestation of Indonesia's seriousness and contribution in maintaining and building a world financial system with integrity," he explained. Being part of the FATF is not just making names in the international arena. But it has a number of important benefits for Indonesia. First, increasing the credibility of the national economy and a positive perception of the Indonesian financial system. "Of course, by becoming a member of FATF Indonesia, it is considered to have a strong commitment in handling financial crimes globally. This will have an impact on increasing the world's positive perception of Indonesia's financial system management," said Ivan. Furthermore, with the world's positive perception of Indonesia, it will increase the confidence of domestic and foreign investors. Good financial system integrity is an attraction for investors to entrust their quality investment management without having to mix with financial crime proceeds.

In addition to being able to attract investors, Indonesia's existence in the FATF can increase the effectiveness of international cooperation in uncovering cases related to money laundering, financing terrorism, and the proliferation of weapons of mass destruction. "It is common knowledge that the three criminal acts are transnational crimes, so global cooperation is very necessary," said Ivan.