Anti-Money-Laundering and Prevention-of-Terrorism-Financing Programs (APU-PPT) within the Financial Services Sector Strengthened

In bid to bring the financial services sector into line with a number of recommendations which have been made by the Financial Action Task Force (“ FATF ”) in relation to the anti-money-laundering and prevention-of-terrorism-financing (Anti Pencucian Uang dan Pencegahan Pendanaan Terorisme– “ APU-PPT ”) initiatives which are being implemented by the Financial Services Authority (“ OJK ”), Regulation No. 12/POJK.01/2017 on the Implementation of Anti-Money-Laundering and Prevention-of-Terrorism-Financing Programs within the Financial-Services Sector (“ Regulation 12/2017 ”) has now been updated and amended through the issuance of Regulation No. 23/POJK.01/2019 (“ Amendment ”). [1]