Regulatory Alerts2009-11-30
Standard Guidelines for Implementation Anti Money Laundering and Combating The Financing of Terrorism Program for Commercial Banks
Bank Indonesia issued Circular Letter No. 11/31/DPNP to establish standard guidelines for commercial banks implementing Anti Money Laundering and Combating The Financing of Terrorism programs. These guidelines define minimum requirements for practical policies covering management, customer due diligence, risk-based classification, and internal controls. The document mandates specific procedures for high-risk areas, cross-border banking, wire transfers, and record keeping to ensure regulatory compliance effective November 30, 2009.
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