Regulatory Alerts2012-03-29
Bank Indonesia Regulation Number 14/3/PBI/2012 Concerning the Anti-Money Laundering and Prevention of Terrorism Financing Programme for Non-Bank Payment System Service Providers
Bank Indonesia issued Regulation Number 14/3/PBI/2012 to mandate Anti-Money Laundering and Prevention of Terrorism Financing programmes for non-bank payment system service providers. The regulation requires these entities to implement robust internal controls, conduct Customer Due Diligence, and report suspicious transactions to the Financial Transaction Analysis and Reporting Centre. It further establishes specific governance responsibilities for boards of directors and commissioners to ensure compliance with international standards and domestic laws.
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