PPATK Freezes Another 29 Accounts Allegedly Involved in Illegal Investment

TEMPO.CO, Jakarta - The Financial Transaction Reports and Analysis Center (PPATK) has again suspended 29 bank accounts temporarily worth Rp7.2 billion as it is tracking the flow of money allegedly related to online illegal investments, both domestic and overseas.

“So 150 accounts with a total value of Rp361.2 billion have been temporarily frozen,” said PPATK Head Ivan Yustivandana in a written statement Friday, March 18.

He emphasized that his side continued to track the flow of money categorized as suspicious transactions in the country and overseas and coordinates with the Financial Intelligence Unit (FIU) of other countries.

According to Ivan, it was discovered that there were significant outflows of funds to bank accounts located in Belarus, Kazakhstan, and Switzerland.

The recipient of the funds is suspected to be the owner of the illicit binary options trading or Binomo platform located in the Caribbean Islands totaling 7.9 million euros or Rp125.5 billion for the period September 2020 - December 2021.

The funds were then transferred back to entities that managed a number of online gambling sites and were affiliated with gambling sites in Russia.

“From the results of the PPATK analysis, we also found efforts to disguise/or obscure the recipient of the funds who are known to be underage,” said Ivan.

Read: PPATK Keeps Close Watch on Binary Option's Alleged Affiliates

MUHAMMAD HENDARTYO