Police, PPATK Track Down Binomo Owner in Caribbean Islands

TEMPO.CO, Jakarta - The Indonesian National Police (Polri)'s criminal investigation unit (Bareskrim) on Friday announced that it is tracking down the owner of binary option trade platform Binomo, which is believed to be in the Caribbean Islands. Police came to this conclusion after the Financial Transactions Reports and Analysis Center (PPATK) discovered flow of funds to the area. 

Police spokesperson Sr. Comr. Gatot Repli Handoko said the two agencies are coordinating with each other to trace the funds that will lead them to the owner of the illegal trading platform. 

This came after police had detained and interrogated two popular binary option affiliators known for their extravagant social media presence, Indra Kenz and Doni Salmanan. The two men work as affiliates for binary platforms Binomo and Quotex. 

“We continue to check the flow of funds together with PPATK from the two suspects to [people positioned above them],” he said on March 18. 

After arresting the two binary option affiliates, the police and Indonesian authorities aimed at apprehending the masterminds behind the illegal investment platforms, which are also believed to be linked to money laundering.

PPATK has previously, in collaboration with the Financial Intelligence Unit (FIU) abroad,  uncovered the flow of illegal investment funds through binary options platforms. PPATK found that significant amounts of funds had been disbursed abroad, namely to bank accounts located in Belarus, Kazakhstan and Switzerland.

"The recipient of the funds is suspected to be the owner of the Binomo platform located in the Caribbean Islands," said Head of PPATK Ivan Yustivandana on Friday, March 18, 2022.

Read: Police Launch Hotline for Trading Robot, Binary Option Cases

ARRIJAL RACHMAN