There Are 150 Accounts With Transactions Of IDR 361.2 Billion Related To Illegal Investments Frozen By The PPATK

Head of PPATK Ivan Yustiavandana. ANTARA/HO-PPATK

JAKARTA - The Center for Financial Transaction Reports and Analysis (PPATK) continues to work optimally in tracing the flow of money suspected of being related to criminal acts in the form of illegal investments, both domestic and international funds flows.

The PPATK has again temporarily suspended 29 accounts with a value of IDR 7.2 billion, bringing a total of 150 accounts with a total of IDR 361.2 billion that have been temporarily frozen.

Head of PPATK Ivan Yustivandana emphasized that the PPATK continues to work in tracing the flow of money that is categorized as suspicious transactions to overseas.

"The search continues to be carried out by the PPATK. Currently, the temporary suspension of transactions is carried out on 29 accounts with a nominal amount of IDR 7.2 billion. The results of this search increase the number of frozen accounts to 150 accounts, with a total amount of IDR 361.2 billion," Ivan said in a written statement, Friday, March 18.

As a central institution (focal point) in the prevention and eradication of money laundering (TPPU) in Indonesia, the PPATK continues to coordinate with Financial Intelligence Units (FIUs) from other countries.

According to Ivan, based on the results of coordination with the PPATK partners from FIUs abroad, it was discovered that there were significant outflows of funds to bank accounts located in Belarus, Kazakhstan, and Switzerland.

The recipient of the funds is alleged to be the owner of the Binomo platform located in the Caribbean Islands with a total fund for the period September 2020-December 2021 of 7.9 million euros.

The funds are then transferred back with the final recipient of the funds being an entity that manages a number of online gambling sites and is affiliated with gambling sites in Russia.

"In addition, based on the analysis of transactions conducted by PPATK, it was also found that the flow of funds to watch shop owners was IDR 19.4 billion, car showroom owners/developers were IDR 13.2 billion funds that are known to be underage (toddlers)," said Ivan.

The PPATK has the authority to temporarily suspend transactions for 20 working days and then coordinate and report to law enforcement on suspicious transactions in large amounts related to investments that are suspected to be illegal.

In addition, the reporting submitted by the reporting party to PPATK is also intended to protect the reporting party from legal risk and reputation risk.

The reason is, it can prevent the use of the reporting party as a means and target by criminals to launder the proceeds of a crime.

Green financial crime

Ivan added that after two decades of focus on preventing and eradicating money laundering in various sectors such as funds from the proceeds of criminal acts of corruption, narcotics, banking, capital markets, customs, excise, terrorism, theft, embezzlement, fraud, counterfeiting money, gambling, and others, now the PPATK is increasingly focused on preventing money laundering from environmental crimes or green financial crimes.

"Environmental crimes or crimes are far more dangerous because of the impact not only on the value generated, but the impact on the environment which is likely to be much greater. Prevention and eradication of green financial crime is also a form of PPATK's support for government efforts to create a green economy," he said.

According to him, there are not a few perpetrators of criminal acts in the forestry sector, the environment whose assets have become clean through money laundering.

"Environmental crime practices must be narrowed down through the prevention of money laundering," he said.