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 · Bali: A 'Heaven' for Money Laundering?
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

Bali: A 'Heaven' for Money Laundering?

Bank Indonesia Official Points to Bali's Property Sector as Ripe for Potential Abuse by Money Launderers.


Bali News: Money laundering Bali, Viraguna Bagoes Oka, Bank Indonesia, bank transfers Bali, Center the Analysis of Financial Transactions, PPATK, Bambang Permantoro
Click Image to Enlarge

(7/18/2009)

Both BisnisBali and the Bali Post carry articles suggesting Bali has earned the dubious distinction of becoming a "heaven" for money launderers.

The Head of the Bali branch of Bank Indonesia, Drs. Viraguna Bagoes Oka, speaking at a meeting on money laundering, said, "the potential (for money laundering) is very high in Bali, especially in light of the high level of investment activity."

The Bank Indonesia official blamed imperfections in current "anti-money laundering" regulations for fostering these activities in the banking, hotel, foreign exchange and property sectors. "Transactions in the property sector are both numerous and large, with participants coming from various places," he explained.

Viraguna called on his colleagues in the banking sector to act firmly in supervising and preventing money laundering in Bali.

He also bemoaned the effects of money laundering on Indonesia's economy, society and law. "I call on banks to obtain detailed information on those making sizeable transactions," he said.

When asked about the modus operandi for money laundering in Bali, Viraguna said tracking such activities is difficult. Such illegal transactions are often broken down into smaller amounts, using a wide number of brokers and nominees. To counteract these problems he called for clear personal identification, ensuring people do not employ two different sets of identity papers.

Separately, the Vice-Chairman of the Law and Enforcement for the Center the Analysis of Financial Transactions (PPATK), Bambang Permantoro, highlighted property transactions as being ripe with opportunity for money laundering activities. To date, PPATK has referred over 700 cases of money laundering to the police for prosecution.

Bambang told the press that while new technology has widened the opportunities for money laundering, that same technology has also opened new avenues for law enforcement officials to track such activities.


© 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
Bike, Run and Swim in Bali
Herbalife Bali International Triathlon – a Race for the Soul on Sunday, October 25, 2015
(3/29/2015)
Meet in Bali
9th Edition of the Bali Meeting Guide to be Published in September 2015
(3/29/2015)
Fragrant Wine for the Fragrant Harbor
Hatten Wines’ Pino de Bali Fortified Wines Served at the Peninsula Hotel Hong Kong
(3/29/2015)
Admission Tickets on the Increase
Admission Charges to Increase at South Bali Public Tourist Attraction on January 1, 2016
(3/29/2015)
When People Leave their Manners at Home
Editorial: Confusion, Conflicting Rules and Bad Manners Surround Plans to Limit Beer Sales Commencing April 16, 2015
(3/29/2015)
Conrad Living Lobby Art Exhibition
The World of Indonesian Puppetry in an Exhibition by I Ketut Sudiana in the Lobby of The Conrad Bali Resort and Spa April 3- June 30, 2015
(3/29/2015)
Going with the Grain
Klungkung Regency in Bali to Develop Sea Salt Production as a Tourist Attraction
(3/29/2015)
Fruit from the Tree of Good and Evil
Falling Durian Kills Second Man in Bali in a Single Season
(3/29/2015)
Safety Ranking for Indonesian Airlines
Transportation Ministry to Give Safety Ranking to Indonesian Airlines and Enforce Minimum Air Fleet Size of 10 Planes
(3/29/2015)
We Only Have Eye for You!
Immigration Introducing New Electronic Tracking Systems to Keep Track of Foreign Visitors
(3/29/2015)
Indonesia’s Waterloo?
Tourist Minister Says Dirty Public Toilets Make Indonesian Non-Competitive in Attracting Visitors
(3/29/2015)
Missing at Sea
Domestic Tourist Drowns at Tanah Lot
(3/29/2015)
All [News]!