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.
According to Salman, to date the draft of the regulation is still being at the stage of preliminary discussion in related ministries and government institutions. However, Salman added that the discussion is scheduled to be settled in this year.
Vice Chairman of PPATK Dian Ediana Raw added that the future regulation will require companies to report the names of shareholders on a regular basis. "This is for monitoring purpose," he said. Salman expects that the policy may entangle beneficial owner of a corporation crime.
Legal observers from the Center for Anti-Corruption Studies at University of Gajah Mada, Oce Madril said that the regulation will accomplish the regulation on law enforcement to a corporate and its networks. “This will facilitate the law enforcement over a legal case that involves corporation,” he said.
(Muhammad Farid/Translator)
