The PPATK coordinates Indonesia's AML efforts and programs.
PPATK publishes a monthly report summarizing reporting activity.
, Bank Indonesia (the central bank), and OJK (the financial services agency) should better define roles and responsibilities in order to better address compliance and asset freezing.
Indonesia's financial intelligence unit (PPATK
) works closely with the Central Bank to oversee and implement Indonesia's AML regime.
Among other improvements, the law expands the list of agencies permitted to conduct money laundering investigations, gives the independent financial intelligence unit (FIU), PPATK
, more authority to examine suspicious financial transactions, and increases some criminal penalties for money laundering offenses.
This law expands the list of agencies permitted to conduct money laundering investigations; increases the ability of the independent Financial Intelligence Unit (PPATK
) to examine suspicious financial transactions; expands institutions authorized to obtain results of PPATK
analysis or examination of transactions; creates a streamlined mechanism to seize and freeze criminal assets; expands the entities which must file reports with PPATK
and increases some criminal penalties for money laundering offenses.
Department of Justice Asset Forfeiture and Money Laundering Section (AFMLS) traveled to Indonesia to work with the OPDAT RLA, the Indonesia Financial Investigation Unit (PPATK
), and an inter-agency drafting team on new Non-Conviction Based (NCB) Asset Forfeiture Legislation for Indonesia.
Article 13 of the AML Law requires providers of financial services to report suspicious financial transactions to the Indonesian financial intelligence unit (FIU)--the Financial Transactions Reports and Analysis Centre (PPATK
has concluded 31 MOUs with other FIUs and has entered into an Exchange of Letters enabling international exchange with Hong Kong.
AUSTRAC is also providing further assistance in terms of IT system enhancement to the Indonesian FIU, PPATK
(Indonesian Financial Transaction Reports and Analysis Center).
Indonesia's Financial Intelligent Unit (PPATK
), established in December 2002 and fully functional since October 2003, continues to make steady progress in developing its human and institutional capacity.