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Jakarta Post
The Jakarta Post
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Indonesia obtains FATF observer status

  • News Desk
    News Desk

    The Jakarta Post

Jakarta | Thu, July 5, 2018 | 08:42 am
Indonesia obtains FATF observer status Financial Action Task Force (FATF) president Santiago Otamendi (Courtesy of/www.un.org)

Indonesia has become an observer to the Financial Action Task Force (FATF), an official step to becoming a full member of the task force.

The observer status was decided during the Financial Action Task Force-Middle East and North Africa Financial Action Task Force (FATF-MENAFATF) joint plenary meeting in Paris on June 29 attended by 700 members of the FATF, MENAFATF and other international organizations.

Indonesia was represented in the meeting by officials from the finance and foreign ministries, as well as the Financial Transaction Reports and Analysis Centre (PPATK).

The FATF paid a visit to Indonesia in May, led by FATF president Santiago Otamendi to assess the country’s readiness to become a member of the FATF.

“Indonesia shows enthusiasm and high commitment to uphold antimoney laundering regime and terrorism funding prevention,” said Otamendi as quoted by kontan.co.id on Monday.

Before the Indonesian observer status was decided unanimously, support had been voiced by delegates from Portugal, New Zealand, Singapore, China, Germany, Australia, the United States, the United Kingdom and Russia.

With the status, Indonesia may take part in the task force’s activities and voice its aspirations in task force meetings. (bbn)

 

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