Minister of Finance has issued Regulation No. 45/PMK.06/2013 on Implementation of the ‘Know Your Customer’ Principle for Auction Companies (“Regulation”), which implements Article 18 (1) of Law No. 8 of 2010 on Prevention and Eradication of Money Laundering. [1] The Regulation aims to prevent auction companies from being used for money laundering. The Regulation applies to auction companies in Indonesia. [2]
Implementing the ‘Know Your Customer’ Principle for Auction Companies
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