PPATK Suspected Many Crazy Rich Are Laundering Money From Stupid Investments

Head of PPATK Ivan Yustiavandana (DOK PPATK)

JAKARTA - The Financial Transaction Reports and Analysis Center (PPATK) has received 47,587 transaction reports from registered Goods and Service Providers (PBJ) throughout 2021. With this number of reports, there is an increase of 126.5% year on year.

Head of PPATK Ivan Yustiavandana said the participation of PBJ Reporting Parties has increased in reporting transactions as regulated by applicable regulations.

In addition, the increase in reports shows PBJ's awareness of the importance of applying the principle of recognizing service users or customers who make transactions.

In accordance with Government Regulation Number 43 of 2015 as amended by Government Regulation Number 61 of 2021 concerning Reporting Parties in the Prevention and Eradication of Criminal Acts of Money Laundering and Terrorism Financing (TPPU-PT), the Provider of Goods and Services/Others (PBJ) is the Reporting Party who are required to submit transaction reports to PPATK.

This is the basic principle of the Prevention and Eradication of ML-PT which has become international best practices as also stated in the Recommendations for the Financial Action Task Force (FATF) as an effort to maintain the integrity of the Indonesian financial system and protect the public against criminal acts.

"However, related to the analysis conducted by PPATK on allegations of fraud and money laundering in cases of illegal investment, it was found that there were transactions related to the purchase of luxury assets in the form of vehicles, houses, jewelry and other assets that must be reported by PBJ as the Reporting Party to PPATK. , but in practice it is not reported,"

"Those who are often dubbed 'Crazy Rich' should be suspected of committing money laundering crimes originating from fraudulent investments using the Ponzi scheme," said Ivan in a written statement received in Jakarta, Sunday, March 6.

Allegations of fraud are getting stronger not only from the detection of fraudulent investment fund flows, but also from the ownership of various luxury goods, which apparently have not been reported by the providers of the goods and services where they purchased them.

"Every provider of goods and services is required to report a Transaction Report of its service users or customers to the PPATK, by referring to the application of the Principles of Recognizing Service Users as regulated in the PPATK Regulations," continued the Head of the PPATK.

In reporting various types of reports that have been regulated by the state, the role of the PPATK reporting party is very important and crucial, including the providers of goods and services. The Reporting Party, as regulated by Law No. 8/2010 concerning the Prevention and Eradication of the Crime of Money Laundering, strictly regulates the imposition of sanctions if it does not carry out its obligations properly.

Each report submitted is information that has an important story and meaning in helping track the flow of funds in the analysis results and other financial intelligence information to investigators for disclosure. It is not just about reporting, but what is very important is carrying out the joint commitment of every stakeholder in building the Anti-Money Laundering and Prevention of Terrorism Financing (APU-PPT) regime.