President Jokowi Issues Decree on Indonesia FATF Membership

President Joko “Jokowi” Widodo on April 5, 2024 issued Presidential Decree (Keppres) Number 14 of 2024 on Indonesia’s Membership of the Financial Action Task Force (FATF).

“[The Presidential Decree] stipulates Indonesia’s membership in the Financial Action Task Force,” the First Dictum of the Presidential Decree states.

The Second Dictum states that the implementation of the Indonesia’s membership is subject to the prevailing provisions of the FATF and is in accordance with the provisions of laws and regulations.

“All cost for the Indonesia’s membership is borne by the State Budget and other legal and non-binding sources of financing in accordance with the provisions of laws and regulations,” the Third Dictum reads.

The Fourth Dictum stipulates that the Presidential Decree, which can be accessed on the Cabinet Secretariat’s website, comes into force on April 5, 2024.

The issuance of the Presidential Decree aims to eradicate money laundering and terrorism financing which is part of cross-border crimes, and to maintain economic stability and the integrity of the financial system.

For the record, President Jokowi in November 2023 stated that Indonesia had officially become the 40th full member of the FATF.

The FATF is an international organization focused on global efforts to eradicate money laundering, the terrorism financing, and the financing of weapons of mass destruction.

“As part of the result of the negotiation in Paris at the end of October, thank God, Indonesia was accepted unanimously as the 40th permanent member of the Financial Action Task Force,” the President remarked. (UN) (RI/MMB)