Gov’t Introduces New Regulations on Carrying Cash Into and Outside Indonesia

In accordance with Law Number 8 of 2010 on the Prevention and Eradication of Money Laundering, every one who brings cash or other payment instruments worth Rp100 millions or more into or out of Indonesia’s customs territory must report it to the Directorate General of Customs and Excise.

“Otherwise, they will receive an administrative sanction in the form of 10 percent deduction of the whole amount of cash and/or other payment that is carried, at a maximum of Rp300 million,” said Deni Surjantoro, Head of Sub Directorate of Communication and Publication of the Directorate General of Customs and Excise, Ministry of Finance, in Jakarta on Thursday (16/6).

Deni also warned that the administrative sanctions also apply for everyone who reported carrying cash or other payment instruments but the amount is bigger than the reported amount “The deduction will be directly taken from the cash carried and will be deposited to the state coffer by the Directorate General of Customs and Excise,” he said.

Especially for those who carry cash in rupiah worth Rp100 millions out of Indonesia’s customs territory, Deni said that they must obtain a permit from central bank Bank Indonesia, while for those who carry cash rupiah worth Rp100 millions or more into Indonesia’s customs territory, the authenticity of the money will be further checked by the Directorate General of Customs and Excise.

“We take these measures to prevent and eradicate money laundering, maintain and safeguard the stability of rupiah, as well as to supervise money circulation traffic, including supervision against counterfeit money,” Deni said, adding that this is in accordance with the Regulation of the Governor of Bank Indonesia Number 4/8/PBI/2002 that regulates requirements and procedures of carrying rupiah into and out of Indonesia’s customs territories.

For the record, in line with Law Number 8 of 2010 on the Prevention and Eradication of Money Laundering, the Government regulates all forms of prevention and eradication of Money Laundering, including the act of carrying cash and other payment instruments into and out of Indonesia’s customs territory.

Specifically, Article 34 and Article 35 of Law Number 8 of 2010 also regulates the mechanism of carrying cash worth Rp100 million or more, both rupiah and foreign currencies; or other payment instruments such as check, traveler’s check, promissory notes, or transfer/clearing forms issued by a bank in the form of a checkbook into and out of Indonesia’s customs territories. In accordance with the provisions of the two articles, the people must report to the Customs and Excise office. (Humas Ditjen Bea dan Cukai/ES) (EP/YM/Naster)