Implementing Know Your Customer Principles

Head of Indonesia Financial Reports and Transactions Analysis Center Regulation No. PER-10/1.02.1/PPATK/09/2011 on the Implementation of Know-Your-Customer Principles for Goods and Service Providers (“Regulation”) has been issued to implement Article 26 (3) of Presidential Regulation No. 50 of 2011 on Procedures for Exercising Financial Transaction Reports and Analysis Centre Authority (“Perpres 50/2011”). Article 26 (3) of Perpres 50/2011 mandates the issuance of a Head of Financial Reports and Transactions Analysis Center regulation on Know Your Customer Principles.