Indonesia is the only country that has not entered the FATF

Suara.com – Minister of Finance Sri Mulyani Indrawati said that Indonesia is the only country in the G20 that has not been a member of the Financial Action Task Force (FATF) to date.

“It is hoped that this year, we can enter as FATF because Indonesia is the only one in the G20 who has not entered the FATF,” said Sri Mulyani at the Annual Coordination Meeting on the Prevention and Eradication of ML and TPPT in 2021 virtually, Thursday (14 / 1/2021).

In order to become a member of the FATF, the former Managing Director of the World Bank said the main requirement is support from all members.

For this reason, he said, on March 1-17, Indonesia will participate in the FATF Mutual Evaluation (ME). It is hoped that from this event Indonesia can join the organization.

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FATF itself is an intergovernmental body whose goal is to develop and promote national and international policies to combat money laundering and terrorist financing.

“There will be an evaluation of the financial task force on March 1-17, 2021. If Indonesia can be accepted, it can apply international rules regarding money laundering and terrorism financing,” he concluded.

The organization, which is based in Paris, France, previously categorized Indonesia as a country prone to money laundering and terrorism financing and was blacklisted. However, in February last year, the FATF removed the blacklist from Indonesia.

Now said Sri Mulyani Indonesia itself has recorded positive progress to become a member of the FATF by being appointed as an observer in June 2018. Even though it does not have voting rights, Indonesia has the right to speak by being an observer.

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