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Jakarta Post

Indonesia eyes bigger role in intergovernmental antimoney laundering body

  • News Desk

    The Jakarta Post

Jakarta   /   Thu, February 20, 2020   /  05:28 pm
The Jakarta Post Image
Financial Transaction Reports and Analysis Center (PPATK) chairman Kiagus Ahmad Badaruddin speaks during a visit to The Jakarta Post's office on Tuesday, Feb. 18. (JP/R. Bertho Wedhatama)

The government’s Financial Transaction Reports and Analysis Center (PPATK) hopes to see Indonesia obtain full membership in the Financial Action Task Force (FATF) in 2021 so it can play a bigger role in international efforts to stop illicit cross-border movements of capital. “Becoming a FATF member is our main target next year,” Kiagus Ahmad Badaruddin, PPATK chairman, told The Jakarta Post on Tuesday. “We want to contribute to the international community's efforts to detect and eradicate cross-border cases of money laundering and terrorist financing.” Established in 1989, the FATF is an intergovernmental organization comprising 39 members that focuses on establishing international legal, regulatory and operational standards to combat money laundering, which often occurs across borders. As a policymaking body, the FATF requires its members and...