
Since 2014, FSVC has been working with the central bank of Indonesia, Bank Indonesia (BI), to strengthen its capacity for anti-money laundering/combating the financing of terrorism (AML/CFT). Indonesia's porous coastlines and geographic location pose specific money laundering and terrorist finance threats. Improving financial integrity by eliminating such threats encourages foreign investment and fosters a safer and more secure environment for citizens.
FSVC, with support from the U.S. Department of State, most recently conducted a workshop for staff members of BI's National Payments Division. The workshop covered basic AML/CFT principles, but focused specifically on money laundering/terrorist finance threats posed by payment products such as mobile money transfers and credit, debit and pre-paid cards. These products are commonly used to promote financial inclusion throughout Indonesia but require additional AML/CFT supervisory considerations. The workshop also addressed several key issues pertaining to unregulated money remittance providers, an increasing area of concern for regulators in Indonesia.