Financial Crime World

Title: Indonesia Joins Financial Action Task Force (FATF) to Combat Money Laundering and Terrorism Financing

Indonesia Becomes the Latest FATF Member

Jakarta - The Financial Action Task Force (FATF) has welcomed Indonesia as its newest member, marking a significant milestone in the country’s ongoing efforts to combat financial crimes and protect the global financial system’s integrity.

FATF: Global Organization against Money Laundering and Terrorism Financing

  • FATF is a global intergovernmental organization
  • Committed to setting international standards for anti-money laundering (AML) and counter-terrorism financing (CTF)
  • Signifies Indonesia’s dedication to adopting best practices and commitment to AML/CTF initiatives

Benefits of FATF Membership

  • Access to the latest information and resources on AML/CTF
  • Contribute to the development and implementation of FATF’s standards
  • International cooperation and coordination in preventing financial crimes
  • Periodic peer reviews and mutual evaluations to improve AML/CTF framework and performance

Indonesia and UNODC Collaboration

  • Crucial factor in Indonesia’s fight against financial crimes
  • UNODC provides technical assistance and capacity building
  • Facilitates dialogue and cooperation among stakeholders
  • Advocates for emerging priorities such as virtual assets and asset recovery

Strengthening Indonesia’s Efforts: UNODC’s Role

  • Acknowledges support and contributions of donors and partners
  • Essential to collaboration between UNODC and Indonesia

Global Threats of Financial Crimes

  • Money laundering, terrorism financing, and proliferation financing
  • Allows other criminal activities to flourish, such as corruption, drug trafficking, human trafficking, and tax evasion
  • Undermines democracy, human rights, and trust in the financial system

A Global Commitment to Prevent Financial Crimes

  • Indonesia joins a global community committed to preventing financial crimes
  • Collaboration between Indonesia, UNODC, and international partners is a vital front in the battle against financial crimes.

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