Fund Transfer Bill - Strengthening the Rules of Play

The recognition albeit somewhat slow in coming that criminals are becoming increasingly sophisticated and technologically savvy giving them greater ability to take advantage of an under prepared system has spurred Bank Indonesia (BI) to develop a Draft Bill on Fund Transfers. The other primary concern noted in the Draft Bill is the lack of clarity in the transfer systems that have in the past resulted in many banks suffering severe liquidity problems as a result of fictive or poorly configured fund transfer transactions. In search of an initiator for the Draft Bill BI has turned to the Department of Law and Human Rights (Departemen Hukum dan Hak Asasi Manusia / Dephukham) to initiate the Bill into the parliamentary process.