| 500 Million Transactions are obliged to report to the INTRAC |
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| Friday, 30 July 2010 11:26 | |||||||
Page 1 of 2 Jakarta
- Members of the Special Committee on the Prevention and Eradication
Draft Money Laundering (PPTPU) Ahmad Yani said at least 500 million
transaction, or an equivalent value if using a foreign currency should
be reported to the Center for Financial Transaction Reporting and
Analysis (INTRAC)."It is in Article 25 paragraph 1 which reads a draft PPTPU transactions in the minimum amount of 500 million or with a foreign currency whose value is equal to or obliged to report suspicious transactions to INTRAC later than 14 working days after the transaction," said Ahmad Yani in Building Nusantara I MPR / DPR, Jakarta, Friday. The substance of these provisions is to capture perpetrators of transactions and find out where the money in the transaction. Article, he said, is an improvement to prevent the laundering of money in Indonesia. "This progress in PPTPU bill, which previously only financial services providers are reported to INTRAC. It could save people money in the form of objects, not just in the bank, could be in the form of property, jewelry and antiques who is a mode to deceive and evade taxes , "said Ahmad Yani. But the bill PPTPU, there is no strict punishment given if parties to a transaction are not reported. "If not reported, no sanction, only administrative penalties. While it is not strong but if you've got administrative sanctions, already a problem," said PPP's politicians. In Article 15 bill PPTPU say, that must be reported to the relevant INTRAC paragraph 1 of Article 25 it is a financial services provider, began to finance companies, insurance companies, brokers, stock exchanges, pension funds, individual institutions, service providers of current accounts, foreign exchange traders, administering means of payment using the card, money changer, cooperatives, pengadaian, a company engaged in the field or commodity futures trading, money transfer services, car dealerships, property companies, jewelers, antiques, paintings, auction house. "If you buy a house that a minimum of Rp500 million, the developer is obliged to report to the PPATK," said Ahmad Yani. PPTPU bill also gives authority to the INTRAC to be delayed while a suspicious transaction during the five days and if not possible, extended to 15-20 days. (ANTARANEws / Andika Wahyu / ss / PD) www.tenderoffer.biz
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