Proceedings of the 3rd Multidisciplinary International Conference, MIC 2023, 28 October 2023, Jakarta, Indonesia

Research Article

Implementation of Reporting Obligations for Financial Service Providers in Preventing Money Laundering Crimes at PPATK Institutions

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  • @INPROCEEDINGS{10.4108/eai.28-10-2023.2341778,
        author={Rineke  Sara and Dhani  Kristianto},
        title={Implementation of Reporting Obligations for Financial Service Providers in Preventing Money Laundering Crimes at PPATK Institutions},
        proceedings={Proceedings of the 3rd Multidisciplinary International Conference, MIC 2023, 28 October 2023, Jakarta, Indonesia},
        publisher={EAI},
        proceedings_a={MIC},
        year={2023},
        month={12},
        keywords={reporting obligations; financial service providers; money laundering crime; ppatk},
        doi={10.4108/eai.28-10-2023.2341778}
    }
    
  • Rineke Sara
    Dhani Kristianto
    Year: 2023
    Implementation of Reporting Obligations for Financial Service Providers in Preventing Money Laundering Crimes at PPATK Institutions
    MIC
    EAI
    DOI: 10.4108/eai.28-10-2023.2341778
Rineke Sara1, Dhani Kristianto1,*
  • 1: Universitas Borobudur
*Contact email: dhanikristianto.tp94@gmail.com

Abstract

The crime of money laundering is a process or act that aims to hide or disguise the origin of money and assets obtained from criminal acts are then converted into assets that appear to originate from legitimate activities. Providers of goods and/or other services as intended in Article 17 paragraph (1) letter b are required to submit reports of transactions carried out by Service Users in rupiah and/or foreign currency whose value is at least or equivalent to IDR 500,000,000.00 (five hundred million rupiah) to PPATK. This research desires to describe the arrangements for implementing reporting obligations for financial service providers in preventing criminal acts of money laundering at the PPATK Institution. The author uses a normative juridical approach, using primary and secondary data. Data analysis uses qualitative analysis. The research results show that the authority of financial service providers is regulated in Articles 27, 28, 29, and 30 of Law Number 8 of 2010 concerning the Crime of Money Laundering. The Transaction Report as intended in Article 27 paragraph (1) is submitted no later than 14 (fourteen) working days from the date the Transaction is carried out to PPATK.