Indonesia Wants G20 Members Support to Join Anti-Money Laundering Body
Jakarta. Indonesia seeks the support of the G20 countries to join the Financial Action Task Force (FATF) to engage in combat against money laundering, the finance minister said.
"Indonesia's presence in the FATF will be a big contribution to the efforts to eradicate money laundering and terrorism financing," Finance Minister Sri Mulyani Indrawati wrote on her Instagram account on Sunday (19/03).
The FATF is the global standard setting body for anti-money laundering and combating the financing of terrorism. It was established during the G7 summit in Paris in 1989.
By joining the organization, Indonesia will be able to obtain the FATF's updates firsthand.
In February 2012, Indonesia along with Myanmar, Sri Lanka and Thailand were blacklisted by the organization as "not committed" to its action plans.
Indonesia was removed from the list in June 2015, after making a "significant progress," and has since been working with the Asia/Pacific Group on Money Laundering (APG) to improve its policies.
Sri Mulyani's comment related to the G20 Finance Ministers and Central Bank Governors Meeting in Baden-Baden, Germany, on 17-18 March, during which the work of the FATF and Global Forum on Transparency and Exchange of Information for Tax Purposes were welcomed as playing an important role in the group's policymaking for combating corruption, tax evasion, financing of terrorism and money laundering.
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