Indonesia signs cooperation agreement with Cayman
The Indonesia’s anti-money laundering watchdog has signed the cooperation agreement with the Cayman Islands as well as South Africa.
The cooperation of Indonesia with the Cayman is very strategic as far as Cayman is one of the world’s major financial centres. The cooperation agreements with the Cayman Islands’ Financial Reporting Authority includes the exchange of financial intelligence related to money laundering and terrorist financing.
Indonesia’s Centre for Financial Transaction Reporting and Analysis (PPATK) established October 2003 to help fight money laundering has already entered similar agreements with 17 financial intelligence agencies. The cooperation agreements provide for exchanging financial intelligence and helping to fight the terrorist financing. It is also worth mentioning that after a year of being monitored by the FATF, in February 2006, Indonesia was removed from the list of non-cooperative countries of the inter-governmental FATF.