Regulatory Alerts2023-09-01
Regulation of the Commodity Futures Trading Supervisory Agency Number 5 of 2023 Concerning Guidelines for Preventing the Financing of Proliferation of Weapons of Mass Destruction by Futures Brokers, Prospective Physical Crypto Asset Traders, and Physical Crypto Asset Traders
The Commodity Futures Trading Supervisory Agency (Bappebti) of Indonesia issued Regulation No. 5 of 2023 to mandate futures brokers and crypto asset traders to implement strict guidelines for preventing the financing of weapons of mass destruction proliferation. The regulation requires these entities to conduct comprehensive risk assessments, perform enhanced customer due diligence, and maintain active board oversight to identify and mitigate high-risk transactions. Furthermore, it enforces immediate freezing of assets linked to individuals or corporations on the Proliferation Financing List and mandates reporting to the Financial Transaction Reports and Analysis Centre.
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