Indonesia hails acquittal from countries listed of harboring terrorists' fund

Indonesia hailed the results of Financial Action Task Force (FATF) 's recent meeting held in Brisbane, Australia, which acquitted Indonesia from countries suspected to have poor financial system, misused by terror organizations to transfer their funds.

"This is a recognition of internationals community towards the Indonesian government. We were finally trusted, and that made us acquitted from 'grey area' after the previous 'black list' slapped against our financial system," Chairman of Indonesia's Center of Financial Transaction Analysis and Reporting (PPATK) M. Yusuf told a press conference here on Friday.

The grey area and black list were codifications of countries based on performance of their financial system management to prevent and eradicate money laundering and transaction of terrorist organizations.

The codification was issued by the FATF on Money Laundering which was established under auspices of G20. In 2012 Indonesia was black listed in FATF Public Statement as the nation was assessed to have high risk from facilitating transactions of ill-gotten funds, including transfer of terrorist organizations' funds.

Indonesia Foreign Affairs Ministry Director General for Multilateral Affairs Hasan Kleib who was at presence said that among the efforts that made Indonesia acquitted from the black list was the issuance of joint ministerial regulation in February this year.

The regulation obliges the declaration of individuals or corporation identities involved in fund transactions and an immediate freezing of funds belonged to account suspected of being linked to terrorist organizations.

According to Hasan, through the issuance of the regulation government has confiscated 2.08 billion rupiah (about 156,000 U.S. Dollars) of funds from 26 bank accounts suspected to have links with terrorist organizations. Endi