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Indonesian groups allege financial law revision allows money laundering

Created at 2 Jul · 1:25 AM1 source↑ Market-relevant
IN SHORT

A coalition of Indonesian civil society organizations has sent a letter to the global anti-money laundering watchdog, urging a review of Indonesia's membership. They claim new legislation concerning bond issuance could facilitate money laundering and the cleaning of illicit assets.

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Who's Involved

Natsumi Kawasaki
Reporter
Rezha Hadyan
Reporter
Indonesian groups allege financial law revision allows money laundering

↳ Why This Matters

The allegations raise concerns about Indonesia's commitment to combating financial crime and could impact its standing in the international financial community.

Key facts

  • A coalition of Indonesian civil society organizations has written to the global anti-money laundering watchdog.
  • The letter claims that recent legislation regarding bond issuance could enable money laundering.
  • The organizations are requesting a review of Indonesia's membership in the global watchdog.

JAKARTA -- A coalition of Indonesian civil society organizations has released a letter addressed to the global anti-money laundering watchdog, calling for a review of the country's membership on the grounds that new legislation could facilitate the cleaning of dirty assets. The legislation in question governs the issuance of bonds by Indonesia's Danantara sovereign wealth fund.

Frequently asked questions

The groups allege that new legislation concerning bond issuance in Indonesia could facilitate money laundering and the cleaning of illicit assets.

The letter was addressed to the global anti-money laundering watchdog.

They are calling for a review of Indonesia's membership in the global anti-money laundering watchdog.

What Happens Next

01The global anti-money laundering watchdog is expected to review the letter.
02Indonesia's membership status may be subject to review based on the watchdog's findings.

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Cadence

How It Developed

Indonesian civil society groups sent a letter to a global anti-money laundering watchdog.
The letter alleges new legislation could facilitate money laundering.
The groups are calling for a review of Indonesia's membership on the watchdog.

Sources

T1
Indonesian group alleges financial law revision allows money launderingNikkei Asia

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