Three State Institutions Probe US$1.4 Billion Illegal Transfer

TEMPO.CO, Jakarta - The Financial Transaction Report and Analysis Centre (PPATK), Financial Services Authority (OJK), and Directorate General of Taxation of the Finance Ministry will conduct an investigation on the case of a US$1.4 billion funds transfer across country lines that is allegedly done by an Indonesian citizen through a foreign bank.

PPATK Chairman Kiagus Ahmad Baharuddin confirmed that there is an Indonesian citizen overseas that is involved in the money transfer. He claims that the PPATK obtained the information for the last couple of months from mutual agencies.

“We have been working with instances that are competent in investigating such case. But we are not allowed to reveal the identity of the suspect who transferred the funds,” said Kiagus on Sunday, October 8.

OJK Board of Commissioners Chairman Wimboh Santoso said that neither they or the PPATK is able to confirm the motive behind the large quantity funds transfer. “It is too premature to assume what transaction it was,” he said on Saturday, October 7.

Wimboh’s statement was a contrast compared to the Director General of Taxation Ken Dwijugiasteadi who said that this case has attracted the financial policy stakeholders in Asia and Europe. He urges the bank that facilitated the transfer to officially report the case.

This case emerged last weekend together with the investigation on Europe’s and Central Asia financial regulatory investigation against Standard Chartered bank. Regulators issued an investigation after an alleged Indonesian client of the bank wired US$1.4 billion from a branch in Guernsey to Singapore at the end of 2015.

FERY FIRMANSYAH|KARTIKA ANGGRAENI | RIANI SANUSI | JULNIS FIRMANSYAH | ROSSENO AJI