Education and Campaign - Bank Sentral Republik Indonesia
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October 25, 2020

Suggestion of Strengthening AML CFT in Responds of Covid-19 Pandemic

In May 2020, FATF had published the suggestion related to challenges, good practices and policies in responding of Money Laundering and Terrorist Financing threats and vulnerabilities namely COVID-19 related Money Laundering and Terrorist Financing - Risk and Policy Responses.

The suggestion including:

  1. Coordinate domestically and effective communication need to be done between Government and Providers related to the effect of COVID-19 pandemic in AML CFT Program.
  2. Urge Providers to use Risk Based Approach in doing their Know Your Customer or Customer Due Diligence.
  3. Urge Providers to apply electronic and digital payment.

 

Bank Indonesia also suggests its Providers (Non-Bank Payment System Service Providers and Money Changers) to stay vigilant during Covid-19 pandemic.

Bank Indonesia suggestion including:

1. Awareness

Understand the risk of Money Laundering and Terrorist Financing related to the effect of COVID-19 in their businesses.

2. Adapt

Assess the impact of COVID-19 to Provider’s AML CFT policy according to FATF recommendation, e.g. expansion the implementation of electronic and digital payment and the implementation of electronic Know Your Customer (e-KYC) or Customer Due Diligence (CDD).

3. Action

Encourage in using risk based approach and coordinate with related Institutions also Supervisor in Bank Indonesia.

Suggestion from FATF which is COVID-19 related Money Laundering and Terrorist Financing - Risk and Policy Responses can be downloaded here

Press Conference and New Related Info

 

​Date ​News Link Press Conference / News Info​
​26 Aug 20 INTRAC and Bank Indonesia Synergy to Prevent and Eradicate Money Laundering and Terrorism Financing ​Press Conference
17 Sept 20​ Bilateral Meeting between Bank Negara Malaysia and Bank Indonesia ​Press Conference
​12 Sept 20 BI backs Government on Anti-Money Laundering and Countering Terrorism Financing ​News Info
​04 Apr 20 The signing of the MoU between Bank Indonesia and the Bank of Thailand for Payment Systems and Financial Innovation ​Press Conference
​14 Dec 18 Bank Indonesia Strengthens Remittance Services and Islamic Social Finance ​News Info
​04 Aug 18 Bank Indonesia and Bangko Sentral Ng Philipinas Agreed to Cooperate on the Prevention of Money Laundering and Terrorist Financing ​Press Conference
​13 Sep 17 BI Strengthen Provisions for Anti-Money Laundering and Counter-Terrorism Financing ​Press Conference

 

 

Campaign Material

Poster_APU_PPT_04022020.jpg 

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