Bank Indonesia Requires Fintech to Prevent Money Laundering
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Source: BFW (Bloomberg First Word)
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UUID: 7947283
(Bloomberg) -- Bank Indonesia broadens scope of its anti-money laundering and terrorism funding rule to include financial technology companies, Eni Panggabean, executive director for policy and supervision of payment system, tells reporters in Jakarta.
- Revised rule includes risk-based approach to optimizing supervision, and requirements to freeze funding to terrorism and weapons of mass destruction without delay
- Revised rule requires beneficial owner of customer identification to comply with Financial Action Task Force, says Rosalia Suci, executive director for legal department
- FATF to review Indonesia’s compliance in anti-money laundering and terrorism funding in November: Panggabean
- Indonesia can reduce its premium risk if it complies with FATF recommendation
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
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UUID: 7947283