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's Property Deals Used 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's Property Deals Used for Money Laundering?

Property Companies and Agent Reminded of Legal Obligation to Report Any Transactions in Which Money Laundering is Suspected.


Bali News: Indonesia, PPATK, Natsir Kongah, property companies, property agents, money laundering
Click Image to Enlarge

(4/16/2011)

The Center for the Reporting and Analysis of Financial Transactions (PPATK) says property companies must report whenever they suspect criminality, such as money laundering, is part of a property sale.

As reported by Bisnis.com, the Anti-Money Laundering Law Number 8 of 2010 puts the responsibility for reporting suspicious financial transaction in the property sector on the shoulders of 20 different professions including property companies and property agencies. Natsir Kongah, the spokesman of the PPTAK, said: "They (property companies and properly agents) are required to report suspicions of money laundering to the PPTAK as set forth in the law. The property sector is suspected of having close connections with illegal gains from earlier transactions."

Speaking to the press, Natsir went on to elaborate a number of examples from the past when property transactions were later proved to have involved corrupted public funds.

Natsir said the PPATK is preparing a handbook entitled "Know Your Customer" for property companies' use in preventing the movement of illicit funds.


© 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
When People Leave their Manners at Home
Editorial: Confusion and Conflicting Rules 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)
Permission to Work
Government Promises Inter-Departmental Cooperation to Simplify Application Process for Work Permits
(3/29/2015)
Planning for the Coming Surge
Indonesian Government Holds Coordinating Meeting to Prepare for 45 Nations on the Free Visa-On-Arrival List
(3/29/2015)
Making Bali Arrivals Easier
Bali Eliminates Arrival-Departure Cards at Immigration Check Points.
(3/29/2015)
Rao Reign at Two Resorts
Uday Rao Promoted to Manager Two Four Seasons Resorts in Bali
(3/29/2015)
All [News]!