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Policies for anti-money laundering and terrorist financing compliance will be introduced to combat increasing financial crimes through a collaborative effort by ICAEW and B20 Integrity and Compliance Task Force.
On Wednesday, the Institute of Chartered Accountants in England and Wales (ICAEW) and B20 Integrity and Compliance Task Force collaboratively held a conference in Jakarta.
Experts from ICAEW attended the conference, including the Ministry of the Indonesian Financial Transaction Reports and Analysis Centre (PPATK), the Banking Compliance Director Communication Forum (FKDKP), and others. The event presented recommendations regarding actionable policies from the B20 task force to encourage the adoption of strict measures and quick actions regarding financial crimes such as money laundering and terrorism financing.
The ICAEW introduced major policy recommendations. ICAEW’s Managing Director International Mark Billington said, “With countries recovering from the pandemic facing economic challenges and new technology presenting opportunities for criminal activities, the public and private sectors must work hand in hand to put in place strong countermeasures against economic crimes. We have been persistent in providing guidance and resources to members and nations around the globe, as well as robust anti-money laundering supervision through a risk-based approach, and we will continue to do so,”
The Minister of Finance, Sri Mulyani, also delivered a speech to ensure Indonesia’s commitment to fight against money laundering and terrorist financing.
In 2002, the government established the PPATK as an independent financial intelligence unit to combat financial crimes. Last year, the Ministry of Finance and PPATK signed a memorandum of understanding. The reason was to prevent financial crimes and publish a guideline for further collaboration.
“Other than the B20 Integrity and Compliance Task Force conference today, we hope to continue our discussion and effort with various stakeholders such as PPATK and the Ministry of Finance of the Republic of Indonesia”, ICAEW Head of Indonesia, Conny Siahaan told the Jakarta Post.
“We look forward to holding this initiative annually as a joint effort with the Ministry of Finance to provide insights on various sustainability-related topics, maximise opportunities and inspire key stakeholders in Indonesia and the region to accelerate their response to sustainability challenges,” she said.
According to Conny, mutual efforts were essential to combat financial crimes.
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