Mahfud MD Optimistic Of Indonesia Joining In FATF Membership June 2023

Coordinating Minister for Political, Legal and Security Affairs (Menkopolhukam) Mahfud MD (left two) gave information to the media/ANTARA

Coordinating Minister for Political, Legal and Security Affairs (Menkopolhukam) Mahfud MD is optimistic that Indonesia will join as a member of the Financial Action Working Group for Money Laundering and Terrorism Financing (FATF) in June 2023. The reason is that several stages that Indonesia needs to go through to join as members of the FATF will soon be completed, including the completion of a priority action plan related to the confiscation of assets, along with the ratification of the Asset Confiscation Bill (RUU) into law. "We have received this news from the Minister of Finance (Sri Mulyani), she informed that the action plan (action plan) regarding the confiscation of assets and others related to the task of money laundering (Money Laundering Crime) can be completed April 21,” Mahfud MD said during a press conference at his office, Jakarta, Antara, Friday, April 14. He added that the action plan, which will later be discussed with all FATF members at the Plenary Session of the FATF in June 2023, has actually been completed. The “(Document, ed.) is already in PPATK. We just need to re-meet officially, re-read it to Bali, then knock the hammer, and send it. God willing, hopefully June will not back down again,” said the Coordinating Minister for Political, Legal and Security Affairs of the Republic of Indonesia. FATF (Groupe d'action financialcière) is an organization formed in 1989 on the initiative of G7 countries to establish policy standards and agree on strategies against money laundering. Since 2001, the scope of the FATF has not only been money laundering but also terrorism financing. Continuing to date, FATF has also highlighted funding issues that finance cross-border crimes such as drug smuggling, illegal arms trafficking, fraud in cyberspace, and other serious crimes. FATF, which is centered in Paris, France, currently consists of 39 member states, including G20 member countries except Indonesia. Indonesia has actually volunteered as a member of the FATF since 2017. Related to that, Indonesia last year took a Mutual Evaluation Review (MER) by FATF which is one of the stages that must become a member. Indonesian Finance Minister Sri Mulyani Indrawati on the sidelines of her working visit to the IMF-World Bank Spring Meetings 2023 in Washington DC, United States, Wednesday (12/4), also met directly with FATF President T. King Kumar.

The two discussed Indonesia's membership in the FATF, which could later be decided at the Plenary Session of the FATF in June 2023.