Oversight of the Carriage of Hard Cash through Customs Areas

With the ultimate aim of further preventing any practices relating to money laundering and/or terrorism financing, the Ministry of Finance (“ Ministry ”) has issued Regulation No. 157/PMK.04/2017 on Procedures for Notifications and Oversight, and Indicators of Suspicion, for the Carriage of Hard Cash and/or Other Payment Instruments, as Well as the Imposition of Administrative Sanctions and Deposits into the State Treasury (“ Regulation 157/2017 ”). This regulation is an implementation ofGovernment Regulation No. 99 of 2016 [1] on the Carriage of Cash and Other Payment Instruments into or out of Indonesian Territory.Regulation 157/2017 comprehensively addresses various provisions which relate to carriages of hard cash and/or other payment instruments into or out of Indonesian territory, including: 1) Cash-carriage oversight measures; and 2) Procedures for cash-carriage oversight. Cash-Carriage Oversight Measures Pursuant to Regulation 157/2017, customs and excise officials (“ Officials ”) are authorized to oversee any hard cash and/or other payment instruments [2] amounting to sums of ≥IDR 100 million or its equivalent in foreign currencies (“ Cash ”) which are: [3]