Indonesia enhances vigilance against money laundering
Indonesian President Joko Widodo on April 17 called on the Financial Transaction Reports and Analysis Center (PPATK) and related ministries to remain alert to new methods of money laundering, including those involving the cryptocurrency market.
Indonesian President Joko Widodo delivers his remarks during the 22nd anniversary of the National Anti-Money Laundering and Combating Terrorism Financing Movement commemoration in Jakarta on April 17. (Photo: antaranews.com)
He said Indonesia needs to stay vigilant against new technology-based money laundering acts by overseeing cryptocurrency assets, NFTs (non-fungible tokens), market activities, electronic money, and artificial intelligence amid the rapid developments in technology.
Acording to a recent report, the total value of assets laundered through crypto markets globally reached 8.6 billion USD in 2022. So, he urged relevant ministries and agencies to stay ahead of money launderers by intensifying international cooperation, strengthening regulations, ensuring transparent and indiscriminate law enforcement, and leveraging technological conveniences.
The President asserted that money launderers are constantly seeking new avenues./.
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