JAKARTA. The government seems to be more serious in investigating money laundering practices and the allegation of corporate crimes. Recently, the government is preparing presidential decree, which will require the inclusion of the name of beneficial owner on the certificate of company registration. Director of the Legal Center of Financial Transaction Reporting and Analysis (PPATK) M. Salman said that the future policy to follow up the recommendation of the Financial Action Task Force. The task force recommended improving the information access to beneficial owner to combat money laundering and terrorist financing. The regulation is also designed to support Supreme Court Regulation No 13/2016 on the Procedures for Handling Criminal Acts by the Corporation. "During this time, the inclusion of this obligation does not exist. It should be noted that the actual owners of the company are not necessarily listed on the company’s statutes or deed,” he told KONTAN in the last week.
Beneficial owner must be listed in company deed
JAKARTA. The government seems to be more serious in investigating money laundering practices and the allegation of corporate crimes. Recently, the government is preparing presidential decree, which will require the inclusion of the name of beneficial owner on the certificate of company registration. Director of the Legal Center of Financial Transaction Reporting and Analysis (PPATK) M. Salman said that the future policy to follow up the recommendation of the Financial Action Task Force. The task force recommended improving the information access to beneficial owner to combat money laundering and terrorist financing. The regulation is also designed to support Supreme Court Regulation No 13/2016 on the Procedures for Handling Criminal Acts by the Corporation. "During this time, the inclusion of this obligation does not exist. It should be noted that the actual owners of the company are not necessarily listed on the company’s statutes or deed,” he told KONTAN in the last week.