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AUSTRAC backs Indonesia's fight against money laundering
Financial Transaction Reports and Analysis Centre (PPATK) deputy head Agus Santoso has said that over the past two years, his institution tracked Rp 7 billion (US$500,000) of financial transactions reportedly involving terrorist networks
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span class="caption">Financial Transaction Reports and Analysis Centre (PPATK) deputy head Agus Santoso has said that over the past two years, his institution tracked Rp 7 billion (US$500,000) of financial transactions reportedly involving terrorist networks.(tribunnews.com/Srihandriatmo Malau)
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has reaffirmed its support for a new Indonesian regulation on submission of data and information to combat money laundering, adding that the measure will also aid in efforts to eradicate terrorism.
AUSTRAC is cooperating with Indonesia's Financial Transaction Reports and Analysis Centre (PPATK) to track financial transactions suspected of relating to international terrorist networks.
'Terrorist attacks in Jakarta and Paris recently warned us of the importance of antimoney-laundering and antiterrorist- financing laws,' said AUSTRAC chief executive officer Paul Jevtovic in a discussion to introduce the new regulation in Jakarta on Tuesday.
With financing systems expanding globally, new ways of funding terrorism activities are being opened across the world, he said, adding that Australia and Indonesia needed to work together to stop illegal financial activities.
According to Jevtovic, around 28,000 transactions, equal to US$300 million, pass between Australia and Indonesia each month. 'Our main challenge is to identify these funds, which probably related to organized perpetrators or terrorists,' he said.
Over the past years, the PPATK has detected overseas fund transfers to Indonesia amounting to over Rp 10 billion ($1 million), including Rp 6 billion from Australia, PPATK deputy head Agus Santoso said in December.
The money, he said, was used to help finance the living costs of widows and families of slain terrorists, buy weapons from the southern Philippines, fund paramilitary training and promote violent ideology through gatherings and discussions.
The disclosure of such information is one result of cooperation between the PPATK and AUSTRAC cooperation result, which have been exchanging intelligence information for years, resulting in 22 information exchanges in 2014 and 47 exchanges in 2015.
'We have obtained significant mutual benefits, both in terms of intelligence information and skill exchanges,' Jevtovic said. (vps/ags)(+)
