I reiterated that OJK is very concerned over the success of the program ..."Jakarta (ANTARA News) - Indonesia s Financial Services Authority (OJK) has summoned three banks which are affiliated in Singapore to seek clarification over reports that Indonesian citizens participating in the tax amnesty program are being correctly reported to the police.
OJKs Deputy Commissioner for Bank Supervision III Irwan Lubis said in a written statement received here on Wednesday that he has summoned OCBC, NISP, UOB and DBS banks in Indonesia regarding the activities of their principal offices in Singapore, following the enactment of the tax amnesty program by the Indonesian government.
"OJK has summoned banks that are affiliated with Singapore to ask for an explanation about information that their principal banks in Singapore have reported Indonesian citizens who wished to repatriate their funds in the framework of the amnesty program is true," he said.
The three banks, Irwan said, confirmed that their principal banks in Singapore have reported those clients who have participated in the amnesty program to the police.
The action, according to the banks, was taken to meet the standards set by the Financial Action Task Force (FATF).
FATF is an international institute that has been established to prevent international money laundering.
Irwan, however, said that the Singapore police (Singapores Commercial Affairs Department) did not follow up and Indonesian clients could continue with their transactions.
He noted that the banks and their principals supported the tax amnesty program and have provided assistance, while seeking to familiarize bank customers with the program.
"I reiterated that OJK is very concerned over the success of the program and has asked the banks to fully support it, and communicate this with their principals," he said.
(Reporting by Indra Arief Pribadi/Uu.H-YH/INE/KR-BSR/A014)
Editor: Priyambodo RH
Copyright © ANTARA 2016
