PPATK Will Limit The Number Of Cash Transactions Ahead Of The Election Of Regional Chairman

By : Ahmad Fadli Dan Aldo Bella Putra | Thursday, March 29 2018 - 15:00 IWST

Kepala PPATK Kiagus Ahmad Badaruddin
Kepala PPATK Kiagus Ahmad Badaruddin

INDUSTRY.co.id - Jakarta - The Financial Reporting and Analysis and Transaction Center (PPATK) will make the nominal value of cash transactions or direct payments with currency of Rp 100 million. Head of PPATK Kiagus Ahmad Badaruddin said the restrictions on the number of cash transactions conducted so that they can more easily in tracking suspicious financial transactions ahead of elections 2018.

"Certainly, with the limitation of cash transactions, it will automatically facilitate law enforcement officers, PPATK and other oversight institutions, to prevent and eradicate the TPPU (Money Laundering) and TPPT (Criminal Acts of Terrorism Financing)," he said to the crew media.

With the limitation of the transaction amount of Rp 100 million, he stated, it would facilitate PPATK to convict a criminal violation in conducting cash transactions.

Regarding the regulation, he said that the Draft Law (RUU) is currently being drafted regarding the restrictions on cash transactions. "Actually it is included in our National Legislation Program (Prolegnas), which is already completed and will be submitted to the House of Representatives," Kiagus said.

He hopes the bill can be completed as soon as possible. Targeted, by the end of 2018 this policy can be out.

"We are praying (the bill on cash transaction restrictions) this year is completed, with support to encourage the parties to solve it," he said.

Previously, PPATK was wary of bitcoin development in Indonesia. Because, in the international world, allegations arise if the virtual currency (virtual currency) is used as a means of money laundering and financing of terrorism.

News Comment

Today's Industry

Chevron SG Chairman Law Tat Win Credit: Chevron

Rabu, 07 Desember 2022 - 19:44 WIB

What hinders manufacturing firms from lowering their carbon footprint

Chevron Singapore Country Chairman Law Tat Win said the right policies and partnerships are needed for a cleaner energy shift.

Gojek Used for Transportation and Logistics in Indonesia. (Photo: tirto.id)

Rabu, 07 Desember 2022 - 18:48 WIB

Gojek Most Used for Transportation and Logistics in Indonesia

The latest study done by the economic research center Institute for Development of Economics and Finance (Indef) found Gojek to be the most used application (app) for transportation and logistics…

PT Sariguna Primatirta Tbk (Tanobel Group)

Rabu, 07 Desember 2022 - 15:30 WIB

Expand Aggressively, CLEO To Builds 3 New Plants and Develops Distribution Network in 2023

PT Sariguna Primatirta Tbk (Tanobel Group), a listed company, manufacturer of Bottled Drinking Water (AMDK) with the IDX ticker code: CLEO: IJ, will continue the Company's aggressive expansion…

Asahi Kasei Europe GmbH

Rabu, 07 Desember 2022 - 14:15 WIB

Asahi Kasei Participates in Investment in Circularise

Asahi Kasei has decided to invest in Circularise B.V., a startup company in the Netherlands that provides digital product passports and mass balance bookkeeping software, together with Brightlands…

(Photo: © 2022 KRAIBURG TPE)

Rabu, 07 Desember 2022 - 13:18 WIB

KRAIBURG TPE THERMOLAST® H TPE For Medical Valve Applications.

Medical valves control or deliver fluids (liquids and gases) and are essential in operating rooms, intensive care units, outpatient facilities, laboratories, and even homecare settings.