Close
Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Police Raid Illegal Money Changers in Legian
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Police Raid Illegal Money Changers in Legian

55 Unauthorized Money Changers Netted in One Day Sweep of Three Streets in Legian.


Bali News: Police Raid Illegal Money Changers in Legian
Click Image to Enlarge

(7/9/2006)

Responding to numerous complaints from the public regarding fraudulent practices by Bali money-changers, a team of village and local community associations conducted surprise raids on three main streets in Legian on Friday, July 8, 2006. Those raids – affecting Jalan Melasti, Jalan Padma, and Jalan Legian - netted 55 money changers operating without the required permits.

According to data provided by the Association of Foreign Exchange Operators (APVA), only 29 exchange counters are formally registered as foreign exchange operators in Legian, a number far less than the 55 illegal operators discovered in the Friday raids.

Of the 55 illegal money changers uncovered in the raids most were found to be operating without any of the required permits with the remainder found to be operating with expired licenses.

Operating licenses for money changers are only issued by Bank Indonesia. Among the requirements imposed by Bank Indonesia for a legal money changer operation are:

• Possession of local operating permit (SITU/HO).

• A standardized sign to mark the location of an authorized money changer.

• A safe for the storage of funds.

• A detection device for discovering counterfeit funds.

• A calculator.

• Forms for recording exchange transactions.

• Well presented staff to work in the money changer.

• A minimum office size of 2 x 2 meters for the branch office of a money changer.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.


 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
For Those in the Know on Indonesian Hotels
Douglas Ramage Joins All-Star Line Up of Speakers and Panelists at Indonesian Hotel Investment Conference in Bali on June 6, 2014
(4/20/2014)
We Get Mail!
Review on the Sad State of Bali’s Newly Renovated Airport Causes Many Bali Update Readers to Write
(4/20/2014)
We Get Mail!
Following Bali Update’s Editorial on Channel Seven Australia's Unfair Treatment of Bali, We Get a Record Number of Readers Emails
(4/20/2014)
Saving Bali’s Starlings
Four More Bali Starlings Released to the Wilds at Sibang Breeding and Release Site
(4/20/2014)
The Fast Check Out Line is Not Working
Tiara Grocer Ignores Supreme Court Order and Continues to Operate Jalan Cokroaminoto Outlet
(4/20/2014)
Bali Property Market in Decline?
Downturn in Bali Property Business May be Short Term and Cyclical
(4/20/2014)
Paying for the Right to Work
Bali's Capital of Denpasar Gets a Windfall from $100 Per Month Foreign Worker Tax
(4/21/2014)
Providing Gifted Students a Free Education
Bali Allocates US$1.74 Million for a Trade School for Underprivileged Students
(4/21/2014)
Evil Disposition
Foreigners Working Illegally in Bali’s Tourism Sector as Guides, Drivers, Dive Guides and Surfing Instructors
(4/20/2014)
Bali and Beyond Travel Fair 2014
350 Buyers Expected at Bali & Beyond Travel Fair to be held in Bali June 10-14. 2014
(4/20/2014)
Dogged till the End
Bali Quarantine Officials Euthanize 31 Dogs Seized from Animal Smugglers
(4/20/2014)
Hastie Rise to the Top
Hard Rock Hotel Bali Andrew Hastie – Executive Assistant Manager Food & Beverage
(4/20/2014)
All [News]!
 
Tourism and Transport Tourism Agents