Money Laundering Via Crypto Is Necessary And Important To Watch Out For, Jokowi Asks PPATK To Supervise

Indonesian President Joko Widodo gave a briefing on the 22nd anniversary of the National Anti-Money Laundering Movement and Prevention of Terrorism Financing at the State Palace in Jakarta, Wednesday (17/4/2024). BETWEEN Dwi Gayati

JAKARTA - Indonesian President Joko Widodo asked the Financial Transaction Reports and Analysis Center (PPATK) team and related ministries to be aware of the new pattern of money laundering. One of them is through the crypto asset market. "We need to continue to be aware of new technology-based patterns in TPPU such as cryptocurrency assets, virtual NFT, then market activities, electronic money, AI which are used for transaction automation and others, because current technology has changed very quickly," said Jokowi when giving a briefing on the 22 Years of the National Anti-Money Laundering Movement and Prevention of Terrorism Financing at the State Palace. Jakarta, Antara, Wednesday, April 17. Jokowi requested that the handling of money laundering (TPPU) must be carried out comprehensively. The relevant ministries/agencies work two or three steps further than the perpetrators of money laundering, namely through international cooperation, strengthening regulation and transparency in law enforcement indiscriminately, and utilizing technology. Money laundering offenses, said the President, continue to look for new ways, one of which is through the crypto asset market to launder money. Based on crypto crime reports, the President explained indications of money laundering through crypto assets globally reaching 8.6 billion US dollars in 2022 or equivalent to IDR 139 trillion. "This means that money laundering actors continue to look for new ways. Now, we must not lose, we must not lose sophisticatedly, must not be old school, must not lose, must move quickly, must be in front of them. If not, yes, we will continue to be left behind," he said. In addition to money laundering, President Jokowi also asked ministries/agencies to be aware of the threat of terrorism financing that must be prevented. He also mentioned the Asset Confiscation Law which has been submitted to the DPR for immediate ratification. According to the President, money laundering offenses must be responsible and return state money for criminal acts, strengthened through the Asset Confiscation Act.

"We must return what belongs to the State. We must restore what is the right of the people. Those who violate all must be responsible for the state's losses caused," said the President.