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The second Financial Action Task Force (FATF) report published in June 2001 and including a supplemental report in September, denoted Indonesia as one of non-cooperative countries. As response, Bank Indonesia issued Bank Indonesia Regulation No. 3/10/PBI/2001 on Know your customer principle, which requires financial institution to identify its ...
The Financial Action Task Force (FATF), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest. [3] In 2001, its mandate was expanded to include terrorism financing.
The Asia/Pacific Group on Money Laundering (APG) is a FATF-style regional inter-governmental (international) body, the members of which are committed to effectively implementing the international standards against money laundering (Anti–money laundering or AML), combating the financing of terrorism (CFT) and financing the proliferation of weapons of mass destruction.
Financial Action Task Force Membership Map According to its official website, there are 39 members of FATF (earlier 40 members, Russia's membership was suspended in Feb 2023) and two Regional Organisations (European Union and Gulf Cooperation Council), representing most financial centers around the world. [ 10 ]
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The Financial Action Task Force (FATF) is an intergovernmental organization established in 1989, primarily aimed at combating money laundering and terrorist financing. It functions as a policy-making body that develops and promotes standards for effective legislative, regulatory, and operational measures in this domain.
In June 2016, economic relations between Indonesia and the Philippines took a minor strain, when the Indonesian officials suspended coal exports to the Philippines. This decision was made after 7 Indonesian sailors carrying boats of coal en route to the Philippines were kidnapped by Filipino militants in the Sulu Sea .
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