This is part of the joint efforts to strengthen coordination and cooperation in the prevention of money laundering and terrorism funding in Indonesia."Jakarta (ANTARA News) - Bank Indonesia (BI) and the Financial Transactions Analysis and Reporting Center (PPATK) have improved their cooperation agreement here on Thursday for the prevention of money laundering and terrorism funding.
"This is part of the joint efforts to strengthen coordination and cooperation in the prevention of money laundering and terrorism funding in Indonesia," BI Governor Agus Martowardojo stated.
The agreement to improve the memorandum of understanding inked in 2010 is in line with the increasing expectations and demands of the stakeholders and the public with regard to the implementation of BIs and PPATKs functions, duties, and authority, he noted.
Agus remarked that as a central bank, BI plays a vital role in creating and maintaining monetary stability, financial system, and funding system to support the achievement of economic development goals, including improving the welfare and prosperity of the people.
On the other hand, the PPATK, as a financial intelligence unit, plays a strategic role in the prevention and eradication of money laundering and terrorism funding in the framework of tackling serious and organized crimes.
"As has been known, money laundering and terrorism funding, through payment mechanisms and instruments, are a real threat to the integrity and stability of the financial system, which is the focus of BI," he stated.
The cooperation outlined in the memorandum of understanding covers information exchange, formulation of legal provisions or references for compliance auditing, familiarization, education, training, research, assignment of BI employees at PPATK, and information system development.
As a follow-up to the memorandum of understanding, BI and PPATK also signed a cooperation agreement for the exchange of information.
(Reporting by Citro Atmoko/H-YH/INE/KR-BSR/F001)
Editor: Priyambodo RH
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