OJK Synchronizes Technical Rules on the Handling of Assets from TPPU

The Government is currently preparing a draft Regulation of the Government (Rancangan Peraturan Pemerintah– “ RPP ”) on the Handling of Assets, Wealth, and Proceeds of Money Laundering Crime (Tindak Pidana Pencucian Uang– “ TPPU ”) or Other Crimes. This regulation will be aligned with Regulation of the Financial Services Authority (“ OJK ”) No. 8 of 2023 on the Application of Anti-Money-Laundering (Anti Pencucian Uang– “ APU ”), and Prevention of Terrorism (Pencegahan Pendanaan Terorisme– “ PPT ”), and Proliferation of Weapons of Mass Destruction Funding (Pencegahan Pendanaan Proliferasi Senjata Pemusnah Massal– “ PPPSPM ”) Programs Within the Financial Services Sector (“ POJK 8/2023 ”).

“Yes, at this stage the process is undergoing Inter-Ministerial Deliberations (Pembahasan Antar Kementerian/PAK), and this relates to the review of the misuse of dormant accounts within the context of banking supervision,” said Plt of the Department of Financial Literacy, Inclusion, and Communications, OJK, M. Ismail Riyadi, to Hukumonline.

On the other hand, OJK is also finalizing a draft Circular of OJK (Rancangan Surat EdaranOJK/RSEOJK) in relation to the application of APU, PPT, and PPSPM programs based on a risk-based approach, active supervision by the board of directors and board of commissioners, policies and procedures, internal controls, management information systems, human resources, and reporting obligations for Digital Financial Asset Traders.

“It is expected to be issued soon to complement the implementing regulation within the financial services sector,” he added.