Bisnis, JAKARTA - The government is making significant efforts to combat illicit or black money, including seeking membership in the Financial Action Task Force (FATF), an international organization dedicated to fighting money laundering and other financial crimes.
Indonesia has successfully obtained a full membership of the Financial Action Task Force on Money Laundering and Terrorism Financing (FATF). During the FATF Plenary Meeting in Paris, France, chaired by President of FATF T. Raja Kumar, Wednesday (25/10), Indonesia's membership was approved by acclamation. This achievement makes Indonesia the 40th member of FATF.
Indonesia's membership in FATF represents international acknowledgment of the effectiveness of the country's regulations, coordination, and implementation of measures against money laundering, the prevention of terrorism financing, and the proliferation of weapons of mass destruction (APUPPT PPSPM).
This achievement follows years of dedicated efforts since Indonesia's designation as a FATF Observer in June 2018. The next step in this process is the Mutual Evaluation (ME) phase, which will assess Indonesia's compliance with and effectiveness of its APUPPT regime.