The Jakarta Post
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsRI ratifies Swiss mutual legal assistance treaty
Under the agreement, bank secrecy can no longer be invoked to impede the process of information exchanges, which would allow the PPATK to coordinate with Switzerland’s financial intelligence units (FIUs) to track, block and recover illicit assets.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Set as preferred source
T
he House of Representatives passed a bill on the ratification of a treaty on mutual legal assistance (MLA) with Switzerland in a plenary meeting on Tuesday, in what officials commend as a progressive legal breakthrough against money laundering practices in the country.
Speaking after the plenary, Law and Human Rights Minister Yasonna Laoly said the government would begin the necessary procedures to collect data and track assets in Switzerland that resulted from criminal acts.
Yasonna said the government would put together an asset-tracing team comprising members of the National Police’s criminal investigations department (Bareskrim), the Attorney General’s Office, the Corruption Eradication Commission (KPK) and the Foreign Ministry.
“We will also work together with the Swiss authorities to access the available data," he said. “With this legal framework, we are finally doing it.”
Financial Transaction Reports and Analysis Center (PPATK) chairman Dian Ediana Rae separately said the treaty’s ratification was a progressive breakthrough in the enforcement of the antimoney-laundering law.
“With the ratification of the agreement, Indonesia has a strong legal foundation to run legal cooperation initiatives such as asset-tracing for corruption, financial crimes, tax crimes, banking-related crimes, corporate crimes and money laundering,” Dian told The Jakarta Post.
Under the agreement, bank secrecy can no longer be invoked to impede the process of information exchanges, which would allow the PPATK to coordinate with Switzerland’s financial intelligence units (FIUs) to track, block and recover illicit assets.
