TEMPO.CO, Jakarta - A hearing held by the International Cooperation Review Group (ICRG) in Brisbane, Australia from June 21-26 decided to take Indonesia out of the Financial Action Task Force list of 'Non-Cooperative Countries or Territories' (NCCTs).
This means that Indonesia is no longer perceived as a country that is non-cooperative in the global fight against money laundering and terrorist financing.
The decision still is scheduled to be ratified as a FATF decision today, Thursday, June 25, 2015.
Agus Santoso, deputy head of the financial transaction reports and analysis center (PPAT), said that Indonesia will have several advantages from the decision.
First off, Indonesia will have the same status as other countries, particularly as a member of the G20. Secondly, the exit from the blacklist will boost investment grade rating and encourage investment, bilateral trade, and reciprocal agreements.
Third, the exit serves as a strong sign that Indonesia is committed to combatting financial crimes both domestically and internationally.
Indonesia was included in the FATF blacklist in 2012. At that time Indonesia did not have a law on anti-terrorism funding. The regulation was issued a year later, namely Law No.9/2013 on the prevention and eradication of terrorism financing.