Indonesia set to pass regulation to stem money laundering, terrorism financing in fintech sector

Financing is the most critical part of any terror group, experts say.
Financing is the most critical part of any terror group, experts say.PHOTO: REUTERS

JAKARTA - Indonesia will soon approve a regulation to stem money laundering and terrorism financing by requiring fintech players to report suspicious transactions.

Providers of peer-to-peer (P2P) lending, equity crowdfunding, and other financial technology services will have to report such transactions to the Financial Transaction Reports and Analysis Centre (PPATK) under the new regulation, which amends one issued in 2015, its chief Dian Ediana Rae told The Straits Times.

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