- Dian Ediana Rae, Vice Chairman of the Indonesian Financial Transaction Reports and Analysis Center (“PPATK”), recently addressed the implementation of Public-Private-Partnership (“PPP”) schemes in order to optimize efforts to combat terrorism financing within the Asia Pacific region.
- PPP schemes refer to alliances between financial intelligence agencies, law enforcement agencies and reporting parties (financial service providers and goods/service providers) with the aim of creating free exchanges of intelligence so as to realize the ultimate goal of eradicating money laundering and terrorism financing (“MLTF”).
- According to Mr. Rae, such PPP schemes circumnavigate confidentiality and enhance the asset recovery process. However, several issues remain as regards the implementation of such PPP schemes, namely the confidentiality of customer data and information, as well as the low level of political commitment currently being demonstrated around the world.
- In addition, various countries of the Asia Pacific region will be required to harmonize their legal frameworks in terms of any financial investigations and searches which are implemented in relation to virtual assets. This should ultimately help to prevent acts of MLTF being perpetrated by virtual means (e.g. Initial Coin Offering, virtual currency, etc.).
- More on this story, see Hukumonline: “Skema Public-Private Partnership Dapat Dipakai Cegah Pendanaan Terorisme”.
......
Subscribe to read more legal analysis.
Hukumonline Pro Intelligence
Platform AI hukum terpercaya sebagai solusi komprehensif riset Anda
*Syarat dan ketentuan berlaku
Ada Pertanyaan? Hubungi Kami 
Professional Solutions
University Solutions
Pro
My Workspace
Pro AI
Terfavorit
Allex QnA
Pro Compliance
