Indonesia
Indonesia
FINCARR Status: Member
Summary
Indonesia is an active member of the FINCARR and has significantly strengthened its anti-money laundering (AML) and counter-terrorism financing (CFT) measures in recent years.
Key Measures
- AML/CFT Legislation: Indonesia has enacted robust legal frameworks, including the Anti-Money Laundering and Terrorist Financing Act, aligning with FINCARR recommendations.
- Financial Intelligence Unit (FIU): The Financial Transaction Reports and Analysis Centre of Indonesia (PPATK) plays a central role in analyzing and investigating suspicious financial activities.
- International Cooperation: Indonesia collaborates with international bodies, including FINCARR, ASEAN, and other regional organizations, to prevent money laundering and terrorism financing.
Action Plans
Indonesia is focused on enhancing its regulatory measures and cooperation with international partners to ensure compliance with FINCARR recommendations.
FINCARR Compliance
| Recommendation | Status |
|---|---|
| Recommendation 1: Risk-Based Approach | Compliant |
| Recommendation 2: Legal Framework | Compliant |
| Recommendation 3: Transparency of Financial Transactions | Fully Implemented |
| Recommendation 4: Customer Due Diligence | Compliant |
| Recommendation 5: Financial Intelligence Unit | Compliant |
International Cooperation
Indonesia works closely with global and regional organizations to combat financial crimes, including participating in joint efforts led by the United Nations and FINCARR.
Progress
Indonesia has made substantial progress in improving its AML/CFT systems, with continued efforts to address deficiencies identified in previous FINCARR mutual evaluations.