Eighteen Types of Financial Sector Organizers Required to Apply APU, PPT and PPPSPM Program

The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) recently issued Regulation No. 8 of 2023 on the Application of Anti-Money-Laundering and Prevention of Terrorism and Proliferation of Weapon of Mass Destruction Funding (Anti Pencucian Uang, Pencegahan Pendanaan Terorisme, dan Pencegahan Pendanaan Proliferasi Senjata Pemusnah Massal) (collectively referred to as “APU, PPT and PPPSPM”) Programs Within the Financial Services Sector (“Regulation 8/2023”), which has been in force since 14 June 2023. As such, Regulation of the OJK No. 12/POJK.01/2017 and its amendment (“Regulation 12/2017”), which sets out similar arrangements, has now been officially revoked, while its implementing regulations remain valid, provided that none of its provisions are in contradiction with any of the new provisions set out under Regulation 8/2023.[1]