Indonesia Becomes A Member Of The Global Organization To Eradicate Money Laundering

BETWEEN HO BI

JAKARTA - Indonesia is a member of a global organization that focuses on eradicating money laundering, financing terrorism and financing for the proliferation of weapons of mass destruction, namely the Financial Action Task Force (FATF).

"Bank Indonesia welcomes Indonesia's joining in a global organization focused on eradicating money laundering, financing terrorism and financing for the proliferation of weapons of mass destruction," said Executive Director of the Communications Department of Bank Indonesia (BI) Erwin Haryono as reported by ANTARA, Monday, October 30.

Erwin said Indonesia's joining in the FATF shows the integrity of the internationally recognized financial system that can raise Indonesia's credibility.

Indonesia as a full member of the 40th FATF was ratified at the Plenary Session of FATF in Paris, France on October 25-27, 2023, after the Mutual Evaluation (ME) process which was carried out from 2022.

The determination is based on Indonesia's strong commitment to complete various technical action plans and effectiveness in improving the national Anti-Money Laundering (APU) program, Prevention of Terrorism Financing (PPT) and Prevention of Funding for the Proliferation of Mass Destruction Weapons (PPPSPM).

This commitment is a manifestation of the synergy in the National Coordination Committee for the Prevention and Eradication of the Crime of Money Laundering (TPPU Committee).

By becoming a full member of the FATF, Indonesia's position is equal to that of other G20 member countries as a country with financial system integrity. With that position, there will be a real impact in the form of a positive perception of the Indonesian financial system.

Bank Indonesia as the authority of the joint payment system of the industry under the supervision of BI, fully contributes to implementing various ME FATF action plans in order to obtain satisfactory assessment results. BI also always supports the government's strategy in following up on the results of the hearing in question.

Bank Indonesia is fully committed to efforts to prevent and eradicate money laundering offenses, TPPT, and PPSPM. This commitment is in line with the 4th Vision of the 2025 Indonesian Payment System, which guarantees a balance between payment system innovation and financial system integrity through the implementation of the PPU/PPPSPM Principle.